Draft of law on Oman's mineral wealth ready

Oman Tuesday 07/February/2017 21:43 PM
By: Times News Service
Draft of law on Oman's mineral wealth ready

Muscat: A draft law on the mineral wealth in the Sultanate has been completed.
This was affirmed by Eng. Hilal bin Mohammed Al Busaidi, Chief Executive Officer (CEO) of the Public Authority for Mining (PAM) on Tuesday.
He pointed that there are demands by PAM, Oman Chamber of Commerce and Industry (OCCI), companies and institutions operating in the sector, as well as from citizens to government agencies to expedite the issuance of the law, given its importance in strengthening the partnership.
He was attending a meeting, which was organised by the Mining and Quarries Committee at OCCI, he pointed out that the new law includes many new amendments and additions that come in parallel with the orientations of the Government to raise the sector’s contributions to GDP.
Said bin Saleh Al Kiyoumi, Chairman of OCCI stressed the great role played by PAM in organising work, investment, revitalization and development in the sector to enable it to contribute further to the national economy during the next phase. He praised the PAM efforts and its coordination and permanent partnership with OCCI and the private sector.
The meeting discussed the status of mining and difficulties facing it, PAM efforts and plans to reorganize the sector and enhance its contribution to the national economy, the challenges it faces in order to achieve this and the involvement of the private sector in the decisions and the laws, relevant to the sector.
Al Busaidi explained that PAM has conducted a comprehensive survey of the Sultanate and identified potential mining investment sites. He added that coordination was maintained in the survey with other government agencies and those sites will be presented for investment in public tenders this year.