New copper deposits unearthed in Block 8 in Oman's North Al Batinah Governorate
MUSCAT - A UK-based mining exploration firm says it has uncovered evidence of new copper mineralization in Block 8 in North Al Batinah Governorate. This signaling a potentially significant deposit is set to further augment Oman's burgeoning role as a producer and exporter of this strategically important commodity.
London-listed Power Metal Resources PLC said in a filing on Thursday that its majority-held subsidiary, Power Arabia Ltd, made the find as part of the Awtad Project, located within the 498 km2 concession extending some 130km north of Muscat City.
The partnership of Australian exploration firm Alara Resources Ltd and Awtad Copper LLC of the Sultanate of Oman currently holds concession rights to the Block. However, in September last year, Power Metal signed a provisional agreement with the JV to acquire a 12.5 per stake in the Awtad Copper project.
'We're pleased to share an update on our ongoing exploration at Block 8 in Oman, where our majority-held subsidiary Power Arabia is making meaningful strides. Recent fieldwork has identified new copper mineralisation, reinforcing the project's potential as a key focus for Power Metal Resources,' the UK firm noted in a post on Thursday.
Sean Wade, CEO of Power Metal Resources plc, commented: 'We continue to explore multiple avenues for a long-term funding solution for the Power Arabia business and look forward to updating shareholders in due course."
Exploration work carried out by Power Arabia's technical team over the course of the last quarter of 2024 has led to two significant copper results: 4.46 per cent copper from an outcrop at the Al Maidar prospect, and 1.75 per cent copper from a malachite float sample in a previously unexplored area.
'The Company considers that the exploration work conducted to date on Block 8 has progressed extremely well in a short space of time, with the early identification of significant new copper mineralisation in the southern part of the concession. The technical team is building an excellent understanding of the geology and controls to mineralisation, and with the support to date of five Omani graduate geologists, Power Arabia is building a strong in-country team,' the company further noted.
For Australia's Alara Resources, which has interests in several copper mining projects in Oman, the latest find consolidates its investment portfolio in the Sultanate. 'It is truly exciting to see new locations of copper mineralisation being discovered, further enhancing confidence in the previously identified Al Mansur prospect in the Block. Alara is committed to investing further by intensifying exploration activities in the block and looks forward to continuing our cooperation with Power Metals as they advance this promising endeavour," Atmavireshwar Sthapak, Alara's Managing Director, added.
Significantly, the announcement comes amid a notable uptick in copper mining exploration, production, and export activities in Oman. Leading players in this key sector include Minerals Development Oman (MDO), the mining investment arm of Oman Investment Authority (OIA); MDO subsidiaries Mawarid Mining and Mazoon Mining; Oman Mining Company; Green Tech Mining Services; and Al Hadeetha Resources, among others.
2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
an hour ago
- The National
Ask Mina: Postecoglou's unceremonious exit and is Jobe the next Jude Bellingham
Q: How on earth did Tottenham Hotspur think sacking Ange Postecoglou is the correct decision? @Zee107 A: I wish I could say I was surprised – sacked just 16 days after ending a 41-year European trophy drought! It was a unanimous decision by the Tottenham board, who felt the coach ought to have better managed the side across all competitions. Finishing 17th in the Premier League with 22 losses – a record in a 38-game season – was seen as a dismal return given the quality of the squad. It's taken a toll on the club's finances, too. At times, there was an unwillingness on Postecoglou's part to adjust his tactics. Antonio Conte at Napoli had to cope with so many absences and yet he constantly changed formations and tactics to achieve points. I understand the comparison isn't entirely fair given the differences between the two leagues, but the drop in defensive solidity and the disjointed attack was, at times, painfully difficult to watch. In defence of Postecoglou, I understand the decision to prioritise the Europa League. A trophy was what the fans coveted and a change in mentality was required. Winning begets winning and it reinforces confidence. There was genuine hope that after winning the Europa League, the players could push on and, with the right investments, aim for much more next season. Winning a trophy ought to result in more time to build something, but the Spurs board obviously felt differently. Q: Should there be a cap on salaries in football or sport? @ via Instagram A: Many American sports, like the NFL and NBA, already have salary caps in place to preserve competitiveness and unpredictability. Similarly, Formula One has introduced a budget cap to limit how much each team can spend on car development. Salaries in football are out of control, and the money spent on agents and third parties is shameful. At its core, football is a working-class sport. Yet despite the explosion in revenue, fans are increasingly being priced out. While rising ticket costs aren't solely the result of inflated player salaries, the game has undeniably drifted out of touch with the very people who made it what it is. Today, many can barely afford to watch their local club – an indictment of a sport losing touch with its roots. In 2020, a study found that the total wage bill for Premier League clubs in 2018/19 was just over £3 billion. By the start of the 2020/21 season, wages had increased by 2,811%. According to The Swiss Ramble, Premier League wages hit an all-time high of £4 billion during the 2023/24 season. Taking the Uefa Champions League final as an example, Paris Saint-Germain were commended for finally building a team that was 'without a star' and yet they still spent €600 million in two years to build that squad. The total gross salaries paid for the 2024/25 season was around €196 million or €3.7m per week, not including bonuses. Ousmane Dembele is on roughly €346,000 a week, according to reports. A salary cap would ensure smaller clubs are innovative and well managed. If clubs are not so obsessed with buying the best players perhaps they would pay more attention to developing home-grown talents. However, the argument against, in Europe at least, is that a strict salary cap could violate EU Labour laws. Players have the right to negotiate in a free market. You could also argue that if salary caps are to be introduced, they must be applied globally to ensure true parity. American sports can enforce such rules because they are largely confined to one country. Football, however, is a global game – which makes enforcement more complex. Still, it's a challenge worth exploring. Q: Is Jobe Bellingham the next Jude Bellingham? @banabbou via Instagram A: Borussia Dortmund certainly think he's got great potential. The German club that once was home to his brother, Jude, has now agreed a deal with Sunderland for Jobe. Dortmund's opening gambit of €20m was quickly rebuffed, forcing the German club to come back with an improved €33m bid, which was accepted. If the various add-ons are triggered, Jobe will become BVB's record signing. The fact they raised their bid so significantly suggests their complete faith in his abilities and potential. Tall, tough, and tidy on the ball, Jobe can slot into just about any midfield role. He wins duels like it's a hobby, carries the ball with confidence, and knows how to pick a smart pass. He's got that 'Swiss army knife' energy in midfield. But at only age 19, he's still developing. He can lose his positioning at times, and his performances aren't always consistent. But he's young, and with more game time and experience, those areas should naturally improve. Former Real Madrid boss Carlo Ancelotti once joked with Jude that they bought the wrong Bellingham. Hopefully Borussia Dortmund will give him the platform to keep growing as a player. Q: Are you a fan of Cristiano Ronaldo? Just won the Nations League and still the best? @Edil_Antonio via Instagram A: Who isn't a fan of the best players in the world? There is constant criticism aimed at the player deemed too old and selfish to still be playing international football. Some concerns are valid, especially the ones suggesting that his presence stops the team from aggressively closing down opponents. However, against Spain, Portugal showed that they can control the best team in Europe, and Ronaldo was their leader. Personally, I'm a fan and still watch Portugal to see how he fares. There is this beautiful image from their previous match against Germany. Francisco Conceicao scored the first goal and Ronaldo got the second. Go back and watch how Conceicao hugged him, clinging to him. It was such a powerful image as it demonstrated how deeply respected Ronaldo is by his teammates. His mentality, his important goals and his efficacy still make the difference. Of course, we all want to look to youth, to help nurture the next generation, but you can never underestimate experience and leadership. The team should not be building around him for the World Cup next year only because he is unlikely to feature in every game. But what Ronaldo brings to the team is infinitely greater than what he takes away. Q: Should Nuno Mendes not be one of the favourites for the Ballon d'Or? Best full-back? HabuNahl via X A: What an incredible season for Mendes. I was aggrieved that Achraf Hakimi was not generating enough Ballon d'Or buzz, considering his performances for PSG and Morocco, but I was wrong not to mention Mendes as he ought be one of the favourites for the award. Man of the match in the Uefa Nations League final for Portugal against Spain, he not only shut down Lamine Yamal but he scored the opener and delivered the assist for Ronaldo's equaliser. His year just keeps getting better. PSG won the Uefa Champions League largely because they boasted the two best full-backs in the world. Mendes was incredible in the big games. He outpowered Mohamed Salah against Liverpool in the last 16, quietened Arsenal's Bukayo Saka in the semi-final and was imperious against Inter in the final. Tactically astute, dominant when pressing opponents, and technically superb, he dazzles with his ability to glide past defenders and manoeuvre in tight spaces. Mendes is modest, too. When asked about the Ballon d'Or, he nominated teammate Dembele. Both for club and country, Mendes has proved clutch on all the big occasions. He is without a doubt, the best left-back in the world.
The National
3 hours ago
- The National
Israel's disconnect with allies and partners has rarely been clearer
Tuesday's decision by the UK to impose sanctions on two ultra-nationalist Israeli ministers means Britain has joined Australia, New Zealand, Canada and Norway in taking the extraordinary step of introducing travel bans and financial restrictions on members of an ostensibly friendly government to these countries. Perhaps even more extraordinary was the response from one of the ministers concerned. A statement issued by the office of Israeli Finance Minister Bezalel Smotrich the same day confirmed that Israel cancelled a waiver that allowed the country's banks to work with Palestinian ones. Instead of retaliating against the UK directly, Mr Smotrich instead authorised a move that threatens to paralyse Palestinian financial institutions. Such intransigence – and its deeply embedded position within the current Israeli government – explains why more and more of the country's allies and trade partners are losing patience and taking action. Tuesday's sanctions are the latest example of Israel's increasing isolation and the substantial diplomatic and political cost it is paying for its war of collective punishment in Gaza and continuing military occupation of Palestinian land. The fact that Mr Smotrich and National Security Minister Itamar Ben-Gvir are determined opponents of a just political settlement of the conflict also highlights the disconnect between Israel's current leadership and most of the international community. Next week, hundreds of diplomats will gather in New York for a UN summit on the two-state solution, co-chaired by Saudi Arabia and France. Israel's leadership has already said it will not attend; that is its choice, but it is a poor one. Determinedly opposing the majority of international opinion – that is in favour of an equitable settlement – puts the onus on Israel to provide a realistic alternative that does not involve further displacement or other illegal policies. If it cannot, then it will be clear that Israel, which is currently led by a divided and precarious coalition with an uncertain future, is on a collision course with the international community, one that may even try the patience of a much more capricious and transactional White House. The coming UN summit must be bold and ambitious, holding fast to the overall framework of a solution that most of the international community supports: an immediate ceasefire in Gaza, the return of the remaining Israeli hostages, the release of Palestinian detainees as well as a process that leads to Palestinian freedom coupled with security guarantees for Israel. Sanctions on individual Israeli ministers are a statement that the country needs to think hard about where it is headed It is a source of frustration that the case for this position has to be made time and again. Arab nations have already said they are ready to play their part, as was made clear in the 2002 Arab Peace Initiative. Last September, while speaking on the sidelines of the UN General Assembly, Jordanian Foreign Minister Ayman Safadi said 57 Muslim and Arab countries were 'willing to guarantee the security of Israel in the context of Israel ending the occupation' and allowing for the emergence of a Palestinian state. However, what the world is witnessing right now on the streets of the West Bank and in the rubble of Gaza is what the absence of a peace process looks like. More partners of Israel are making it clear that this situation is simply unsustainable. Sanctions on individual Israeli ministers are a statement that the country needs to think hard about where it is headed.
The National
4 hours ago
- The National
Fears for UK's global influence as Foreign Office suffers cuts
The UK's Foreign Office has taken the brunt of cuts in the latest government spending review, prompting fears that Britain's 'soft power' capabilities will be heavily eroded. Staff face a cut to their overseas allowances and potentially being downgraded on pay scales as the department tries to save £78 million a year, a supplementary document revealed. If we aren't proactive in maintaining our global influence, we can expect our standing to diminish Emily Thornberry With a major reduction in overseas aid to fund an increase in defence spending already announced, there is growing concern that Britain's ability to use 'soft power' diplomacy tools will be severely curtailed. The cuts were condemned by senior Labour MP Emily Thornberry, chairwoman of the cross-party Foreign Affairs Committee, who said they were 'alarming and inconsistent' and could damage Britain's global influence. The reduction in Foreign Office spending was part of the review announced by Chancellor Rachel Reeves, in which the military and security services, and the National Health Service receive significant increases in spending. Efficiency plans Morale at the Foreign Office is understood to have taken a blow after the small print of the review, labelled 'departmental efficiency plans', shows proposed cuts to pay and allowances. The government department, which has 156 embassies and 49 consulates worldwide, will 'tighten grading standards to ensure roles are … appropriately remunerated'. 'This will counter a pattern of grade inflation that has emerged over the past decade and more robustly support cost control,' the report warned. Those operating in overseas postings, where they are compensated to maintain a standard of living comparable to the UK, are fearful that they too face cuts. The overseas allowance would face 'reform' and 'streamlining' with the monetary value of specific allowances 'being reviewed and revised', the report said. 'This is an ambitious plan to transform the FCDO [Foreign Commonwealth and Development Office] into a smaller, technologically advanced department with planned investment in both workforce reform and digital transformation that will drive significant efficiencies,' it stated. Harshest cuts Ms Thornberry said that in the current international turmoil Britain had 'never been more needed as a force for good'. However it was, she added, 'very concerning that the FCDO appears to be suffering the harshest real-terms cuts'. With the overseas aid budget already cut from 0.5 per cent to 0.3 per cent of GDP to pay for defence, she was 'deeply concerned about the strain that this spending review will place on the entirety of the department'. She would scrutinise the report to ensure the department was 'not suffering major further cutbacks'. 'Real-term cuts to the Foreign Office budget are alarming and inconsistent with the government's objective to position the UK as a leader on the world stage,' she warned. BBC World Service worries Ms Thornberry also raised concern about the lack of 'clarity or concrete commitment' to finance the British Council and the BBC World Service, which both rely heavily on Foreign Office funding. The BBC has already scaled back the World Service, prompting concern about the UK's soft power overseas. BBC Arabic radio was among 10 foreign language services to stop broadcasting in 2023. Russian-backed news services have begun broadcasting in Lebanon on the former BBC Arabic frequency, leading to acknowledgement that closing the service may have been a mistake. It has also been reported that ministers have asked the British Council look at efficiencies that could make the influential overseas organisation close in 60 countries 'If we aren't proactive in maintaining our global influence, we can expect our standing to diminish, and for autocratic states to fill the vacuum we leave,' Mrs Thornberry concluded. The efficiency report also revealed that the Integrated Security Fund, which supports initiatives on national security risks domestically and overseas, would need to 'deliver efficiency gains' of £10 million within three years, mainly through 'automation, AI, and digital tools'. Lib Dem MP Rachel Gilmour warned on X that cutting the foreign aid budget by £6 billion a year could 'not only undermine our soft power, but also leave vital regions exposed to hostile powers and geopolitical rivals.'
