Energy
Oman expands critical minerals drive with new concessions
Oman has unveiled three new mining concession areas covering more than 2,000 square kilometres to boost its economic diversification strategy.
Key points
- Oman announced three new mining concession areas totaling 2,062 square kilometres.
- The sites contain potential deposits of copper, nickel, manganese, and other industrial metals.
- The mining sector forms part of the sultanate's Vision 2040 economic diversification agenda.
What happened
The National reported that Oman's Ministry of Energy and Minerals launched three new mining concession areas during a conference held in Australia. Spanning a combined 2,062 square kilometres, these parcels are designed to attract investment across various stages of resource development, ranging from initial exploration to ore processing.
The newly designated areas, announced between Monday and Tuesday, vary in size from 627 to 830 square kilometres. According to the reporting, the geological formations in these zones may hold reserves of manganese, nickel, laterite, copper, chromite, gold, marble, and basalt. Ophiolite deposits within the Omani mountains provide a geologic foundation rich in metallic elements such as copper, chromite, and nickel.
Growth strategy
Expanding the mining industry serves as a foundational element of Vision 2040, the national economic diversification framework implemented by the sultanate. Authorities intend to elevate the mining sector's contribution to gross domestic product significantly over a twenty-year span, moving from a 1.4 per cent share recorded in 2020 toward a target of 10 per cent by 2040.
This initiative aligns with broader regional trends across the Gulf, where nations like Saudi Arabia and the United Arab Emirates are prioritizing critical minerals to satisfy surging international demand for clean energy technologies, advanced manufacturing, and defence applications. Unlike the UAE, whose strategy relies heavily on international acquisitions due to domestic constraints, Oman focuses primarily on internal resource development, complementing earlier agreements such as a 2025 multi-million dollar exploration package and a 2023 partnership with UK-based Knights Bay.
Why it matters
For policymakers and investors across Africa and emerging markets, Oman's approach illustrates how resource-rich economies dependent on traditional hydrocarbons attempt to build industrial capacity in transition-related materials. Fuel exports accounted for 72.4 per cent of Oman's merchandise exports in 2025, according to World Bank figures, highlighting an economic exposure shared by many African petroleum producers.
As nations seek to diversify their revenue streams, investments in critical minerals require clear regulatory frameworks and robust infrastructure to attract capital. While Oman leverages its unique ophiolite geology for domestic extraction, African energy and mining jurisdictions face different strategic choices regarding local value addition, processing partnerships, and export infrastructure. Observers note that balancing domestic industrialization with foreign investment remains a central challenge for all emerging economies attempting to position themselves within global clean energy supply chains.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
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Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
