5 days ago
Alara secures mining licence for second copper project in Oman
MUSCAT: Alara Resources Limited, a base and precious metals explorer and producer listed on the Australian Securities Exchange, has announced the award of a mining licence over the Daris 3A5 prospect, part of the Daris Copper-Gold Project in Oman. The licence, granted by the Ministry of Energy and Minerals, represents a significant step forward in Alara's strategy to expand its copper mining footprint in the Sultanate.
The newly granted licence is the second awarded to an Alara joint venture in Oman, reinforcing the company's position in the country's growing mining sector. The licence covers a 0.65 km² portion of Block 7, a mineral-rich zone located approximately 150 km west of Muscat.
The Daris Copper-Gold Project is operated by Daris Resources LLC, a joint venture in which Alara holds a 50 per cent stake and management rights, with an option to increase its interest to 70 per cent.
In a statement by Alara Resources, the company noted that the mining licence followed a thorough and lengthy approval process, which involved extensive technical assessments and stakeholder consultations. It emphasised that while the licence allows for future mining activities, further exploration work is still required to determine whether potentially economic mineralisation exists at the Daris 3A5 site. 'This Announcement does not imply that potentially economic mineralisation has been discovered at Daris 3A5,' the company clarified. 'Further exploration is required to ascertain whether economic mineralisation exists at this prospect.' Initial exploration work carried out by Alara between 2010 and 2012, which included airborne electromagnetic (VTEM) surveys, ground magnetic surveys, and diamond drilling, confirmed high-grade copper mineralisation at the Daris 3A5 prospect. Notable drill intercepts included 3.45 metres at 10.28% copper, 17.2 metres at 8.05% copper, and 30.75 metres at 4.69% copper. These promising results laid the groundwork for the mining licence application submitted in 2013.
Looking ahead, Alara plans a comprehensive development programme over the next 12 months to define the resource and prepare for potential mining operations. This includes conducting new geophysical surveys, further diamond drilling, and metallurgical test work to evaluate recovery potential. Should the findings warrant it, the company aims to issue a mineral resource estimate and reserve classification under the JORC Code, alongside detailed mine planning and potential toll treatment agreements with existing copper processing facilities in Oman.
Commenting on the development, Alara Managing Director Atmavireshwar Sthapak said: 'The award of the Daris 3A5 Mining License marks another pivotal achievement for Alara and reaffirms our deep commitment to the Sultanate of Oman's mining industry. Over the past 15 years Alara has delivered consistently – from completing exploration programs and feasibility studies to building Oman's first copper mine and processing facility at Wash-hi Majaza. Daris 3A5 is poised to become our second copper mining operation, and we are excited to unlock further value for our shareholders.' He also expressed gratitude to the Ministry of Energy and Minerals, Alara's joint venture partners, and the company's staff for their role in advancing the project.
Supporting the sentiment, Shaikh Salim bin Mustahail al Mashani, Chairman of Al Tamman Trading and Establishment, which is part of the joint venture, said: 'We are excited by the granting of the Daris 3A5 Mining License, which represents a significant step forward for the development of Oman's mining sector. This achievement is the result of close collaboration between our team, Alara, and the Government authorities... The Daris project reflects our shared vision of building a sustainable and economically impactful mining industry in the Sultanate.' The Daris 3A5 licence award comes at a time when Oman is prioritising the development of its mining and minerals sector as part of its Vision 2040 economic diversification strategy. Alara's progress not only signals investor confidence in the country's mineral potential but also adds momentum to broader efforts to establish Oman as a hub for copper production in the region.
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