MAWARID MINING EXPORTS FIRST SHIPMENT OF OMANI COPPER CONCENTRATES, MARKING A NEW MILESTONE IN THE SULTANATE'S MINING INDUSTRY

MUSCAT, Oman, Oct. 29, 2024 /PRNewswire/ -- Mawarid Mining, the mining arm of Mohammed Al Barwani Group, has announced the successful export of its first shipment of copper concentrates. The shipment was mined from the Al Ghuzayn underground copper project, from which Mawarid Mining is expecting to extract over 1 million tons of ore per year to be concentrated locally, producing around 20,000 tons of copper concentrate per year to be exported.

As Oman's only underground copper mining project, Al Ghuzayn represents a pivotal moment in the country's mining sector. Mawarid Mining, in cooperation with its contractor Gulf Rock Engineering, commenced development of the Al Ghuzayn project in early 2023, further cementing its role as a leader in Oman's mining industry.

The copper ore extracted from Al Ghuzayn is processed at Mawarid Mining's Lasail Copper Concentrator. Refurbished by Mawarid Mining's expert team in collaboration with global specialists, the facility is now capable of processing over 130 tonnes per hour of ore, ensuring the production of commercially viable copper concentrates. The refurbishment guarantees the continuation of operations at the concentrator for at least 25 more years.

Tariq Al-Barwani, Managing Director of Mawarid Mining, said:  "We are proud to have completed our first global copper shipment, a success made possible through the dedication of our team, contractors, and the support of our stakeholders, including the Omani government. This milestone reflects the MB Group's continued contribution to Oman's national economy and its diverse industries."

With over 6.4 million tonnes of copper ore reserves at a depth starting from 75 meters and reaching around 250 meters underground, Al Ghuzayn project is expected to have a mine life of seven years. The project employs advanced underground mining techniques that significantly reduce environmental footprint by minimizing noise and dust emissions.

Haitham Al-Bahrani, Chief Corporate Officer at Mawarid Mining, said:  "Mawarid Mining leverages world-class mining and processing technologies to transform copper ore into high-quality copper concentrates. In addition, as a proud local partner, we are committed to maximizing In-Country Value (ICV) and strengthening Oman's presence in the global copper market."

Chris Jordinson, Deputy Chief Executive Officer, underscored the importance of copper for global sustainability by saying: "Copper is essential to the world's green energy transition, playing a critical role in industries such as electric vehicles, renewable energy, and advanced technology sectors. The development of Al Ghuzayn is a transformative step not just for Oman but for the broader Middle Eastern mining landscape."

Al Ghuzayn is considered the latest in a list of projects developed by Mawarid locally and internationally, including ongoing projects in Namibia, Rawanda, and Papua New Guinea. Mawarid also has successfully completed four mining projects in Oman, from which it has processed over 6 million tons of ore.

ABOUT MAWARID MINING

Mawarid Mining LLC (Mawarid) is a wholly owned subsidiary of Mohammed Al Barwani LLC (MB LLC) based in the Sultanate of Oman. Mawarid is focused on the sustainable mineral exploration and development of mining projects domestically and internationally.

Mawarid has successfully initiated, led, and concluded a number of copper exploration, development, and operational projects in Oman. Additionally, Mawarid has made strategic acquisitions and investments with near term development projects. Mawarid is now active in the Sultanate of Oman, Namibia, Rwanda and Papua New Guinea.

Contact Information

Ammar Al Naaimi
Senior Editor
MB LLC
+968 97545217
Ammar.naaimi@mbholdingco.com

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