New copper deposits unearthed in Block 8 in North Al Batinah Governorate
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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Observer
3 hours ago
- Observer
India celebrates clean energy milestone but coal still king
Non-fossil fuels now account for half of India's installed energy capacity — years ahead of schedule — but the third-largest greenhouse gas polluter remains deeply reliant on coal for electricity generation. "A landmark in India's energy transition journey," Minister of Renewable Energy Pralhad Joshi proclaimed after the world's most populous nation released figures in July. "Five years early," he added, referring to India's 2030 target under the Paris Agreement, and marking a step to the country's stated goal of reaching Net-Zero emissions by 2070. But while the 50 per cent milestone is significant, climate expert Avantika Goswami says the figures, which refer only to potential energy production, tell just part of the story. "Overall, actual generation from renewable sources is still quite low," Goswami said from the New Delhi-based Centre for Science and Environment (CSE). The reason is stark: nearly three-quarters of electricity continues to come from heavily polluting coal-burning power plants. The challenge becomes even more apparent when examining India's continued dependence on coal. Far from decreasing its usage, the globe's second-largest consumer of coal pushed up production of the dirty fossil fuel by five per cent last year, mining one billion tonnes, according to the coal ministry. "Coal remains crucial," the ministry said. The stance highlights the practical challenges of India's energy transition. Coal is needed to fulfil power demands while storage capacity lags behind the surge in renewable sources of power. "The coal sector remains a crucial contributor to India's energy mix, powering over 74 per cent of the country's electricity and sustaining key industries like steel and cement," the coal ministry said, celebrating what it dubbed "India's coal boom". This reliance places India in a challenging position globally. The country ranks behind only China and the United States for carbon emissions overall. But analysts point out that in a country of 1.4 billion people, per capita emissions are only one-third of the global average, according to official figures. "Looking at India's per capita emissions, the effort it is making, India is doing pretty well," said activist Harjeet Singh, head of the Satat Sampada Climate Foundation. India has set itself the daunting challenge of reducing emissions by 45 per cent by 2030. At the same time, electricity needs are expected to more than double by 2047, according to the country's Centre for Science and Environment. Supplying some of that demand "is likely to be met by the addition of renewables", Goswami said. Half of India's 484.8 GW installed capacity is from non-fossil fuel sources. The majority comes from solar, totalling 119 GW — the third-largest level globally. India is building one of the world's largest solar and wind energy farms, spread over a desert the size of Singapore. It is followed by hydro and wind, and also nuclear power, which makes up less than two per cent of the total mix. But solar and wind create steady power only when the conditions are right, and India's storage capacity is a meagre 505 MWh — far lower than it can generate. The storage bottleneck was not lost on the renewable energy minister. Speaking at the inauguration of a battery storage systems plant in June, Joshi said India's renewable energy potential was "growing fast" and "adding 25-30 GW every year". He added: "But without storage, we will either waste that energy or fall back on coal when renewables dip." Building storage based on batteries requires rare earth metals, with rival and neighbour China controlling 70 per cent of the world's supplies. "We still remain dependent on China," said Harjeet Singh, the climate activist. Chinese Foreign Minister Wang Yi was in New Delhi for talks on Tuesday, with the supply of rare earth metals on the agenda. One solution India is considering is pump-hydro energy storage projects. When wind and solar plants produce excess energy, water is pumped into high reservoirs. That stored energy can then be released to generate power when demand surges. But Goswami believes the transition to cleaner power requires a multi-pronged approach. The transition to cleaner power must come from "emission intensity reduction" of often inefficient coal plants, combined with better integrated renewable energy in the grid that "will actually make the shift happen". Parvaiz Bukhari The writer is South Asia Correspondent for AFP
Muscat Daily
3 hours ago
- Muscat Daily
US: White House launches official TikTok account
Washington, D.C., US – The White House on Tuesday launched an official TikTok account, despite the China-based video-sharing app facing a ban in the US on the grounds of national security concerns. 'America we are BACK! What's up TikTok?' read a caption on the account's first post on the popular video sharing app, a 27-second clip. The account went live with a video showing footage of Trump declaring: 'I am your voice.' A couple of hours after the first video was posted there were just under 19 thousand followers, although US President Donald Trump's own TikTok account has 110.1mn followers. TikTok facing US ban Trump has continued to allow the platform to operate in the US while extending the deadline for TikTok to find a non-Chinese buyer. The current extension is due to expire in mid-September. Trump had initially tried to ban the social media network during his first term as president, but has since reversed his position and has credited it with helping him gain support among young voters in his return to the White House. 'The Trump administration is committed to communicating the historic successes President Trump has delivered to the American people with as many audiences and platforms as possible,' White House Press Secretary Karoline Leavitt said. 'President Trump's message dominated TikTok during his presidential campaign, and we're excited to build upon those successes and communicate in a way no other administration has before,' she added. There is concern among US lawmakers that user data could fall into the hands of China's government. Trump has been working on a deal for US investors to buy the app from TikTok's Chinese parent, ByteDance. DW
Times of Oman
10 hours ago
- Times of Oman
Government rolls out major measures to boost exports, domestic manufacturing in India
New Delhi: The Central Government on Tuedsay unveiled a wide range of measures aimed at strengthening exports and expanding domestic manufacturing. According to a statement by the Ministry of Commerce & Industry, the initiatives include production-linked schemes, new trade agreements, modernized logistics and grassroots-level export promotion programmes. At the forefront of these efforts is the push to expand India's global trade footprint. A significant milestone came on July 24 this year when India signed the Comprehensive Economic and Trade Agreement (CETA) with the United Kingdom. Negotiations are also underway with the European Union, with the goal of finalizing a Free Trade Agreement by the end of the year. Officials say these partnerships are expected to open new markets for Indian businesses, especially in the small and medium enterprises (MSME) sector. To support domestic industries, the Government has implemented Production Linked Incentive (PLI) schemes across 14 crucial sectors, ranging from electronics and IT hardware to pharmaceuticals, solar modules, and automobiles. These schemes have encouraged investments, created jobs, and boosted exports. For instance, India's mobile phone exports have grown dramatically, from Rs. 1,500 crore in 2014-15 to more than Rs. 2 lakh crore in 2024-25, transforming the country into the world's second-largest mobile manufacturer. In pharmaceuticals, the PLI scheme has helped India become a net exporter of bulk drugs, reversing its earlier dependency on imports. Improving the backbone of trade, the Government has launched the National Logistics Policy (NLP) and PM Gati Shakti. These initiatives are designed to cut costs, eliminate transport bottlenecks, and ensure faster connectivity across regions. Complementing them is the National Industrial Corridor Development Programme (NICDP), which aims to create globally competitive industrial hubs linked seamlessly to both domestic and international markets. At the local level, schemes such as Districts as Export Hubs (DEH) and E-Commerce Export Hubs (ECEHs) are enabling small businesses and start-ups to reach overseas buyers. Under DEH, District Export Action Plans have already been prepared for 590 districts. At the same time, ECEHs are being developed to streamline cross-border e-commerce with facilities like customs clearance, packaging, and warehousing at one location. Five pilot projects are expected to kick off soon. Under the PLI scheme for medical devices, 21 projects have already begun manufacturing 54 advanced devices, including MRI machines, CT scanners, and heart valves.
