Muscat: Kunooz Oman Holding, a leading player in mining, quarrying, transportation and construction material sectors, has applied for mining and exploration licences in three locations from the Public Authority for Mining (PAM), said a top-level official of the company.
The plan is to go for open-cast mining in all three places, with an extensive downstream project in one location to produce value-added products.
“We have three specific projects that we are looking at and all are related to the mining sector in different locations in Oman, with the potential of downstream value-added projects,” Dean Cunningham, chief executive officer of Kunooz Oman Holding, told ‘Times of Oman’ in an interview. The plan is to produce several products, including gypsum.
“So, we will do individual feasibility study on multi-product opportunities.”
Oman government generally gives mining licence for a year, which is renewable every year.
Cunningham said that his company has already carried out some exploration work at two locations and the plan is to covert those activities into commercial mining.
“We have a project where we have done extensive exploration work, where we are making application for a mining licence.” Also, high-level exploration work has been carried out in another location, where the company is planning to produce value-added products.
However, the application is for exploration licence in the third location, which will be for producing gypsum, as the company plans to expand.
Besides, the company will conduct pre-evaluation and sampling studies in two or three locations to find out the best possible option with limited amount of capital investment.
Kunooz Oman’s current operations are well positioned to supply marble, gypsum, limestone to various countries as well as in Oman. As much as 60 per cent of the company’s revenue is from exports, while the remaining 40 per cent from domestic market.
Oman Investment Fund, a sovereign wealth fund, has acquired 20 per cent of shares in Kunooz in September this year.