Latest news with #mineralwealth
Zawya
28-05-2025
- Business
- Zawya
Oman launches national company to regulate mineral exports and boost revenues
MUSCAT: In a significant move to optimise the economic potential of its mineral wealth, the Ministry of Energy and Minerals has announced the establishment of Oman Minerals Trading Company as the central authority to oversee the marketing and export of mineral resources from the Sultanate of Oman. The initiative is formalised through Ministerial Resolution No 18/2025, issued by Eng Salim bin Nasser al Aufi, Minister of Energy and Minerals. The resolution marks a key step in reforming the mineral management system and aligns with Oman Vision 2040's goal of sustainable, diversified economic growth. It aims to address existing structural challenges in the mineral sector — such as fragmented marketing, price instability and the dominance of intermediaries — by centralising export control under a national entity. KEY PROVISIONS FOR TRANSPARENCY AND MARKET STABILITY Under the new regulation, gypsum and chrome ore exports will be strictly monitored. Export of raw chrome ore will require a minimum concentration of 36%, while processed ore can be exported at any concentration upon Ministry approval. Local market needs will be prioritised before exports are approved, a policy that supports domestic manufacturing and ensures stability in local supply chains. The regulation also seeks to standardise contracts, enhance negotiation leverage with international buyers and improve pricing transparency for Omani ores — factors that have historically impacted competitiveness despite strong production levels. In 2024 alone, Oman produced about 14 million tons of gypsum across 15 licensed sites and 300,000 tonnes of chrome ore from 29 licensees. However, revenue gains have been diluted by inconsistent marketing and a lack of pricing discipline. STRATEGIC ROLE OF OMAN MINERALS TRADING COMPANY As a subsidiary of Minerals Development Oman, the new trading firm will manage exports, unify contract terms, enforce quality specifications and negotiate international sales. This professionalised approach is expected to lift the average price of Omani minerals and boost national income. Dr Salah bin Hafiz al Dhahab, Director General of Investments at the Ministry, described the move as a 'pivotal milestone,' adding that it enables the government to streamline the export process, reduce price manipulation and better monitor sectoral returns. The decision is also designed to: a. Improve the efficiency of logistics and export operations. b. Increase transparency and curb rent-seeking behaviour. c. Support SMEs involved in supply chains. d. Create more jobs and promote local content through in-country value (ICV) initiatives. The resolution falls under the Ministry's broader 'Majd' initiative, which aims to evaluate and enhance local content across the energy and minerals sectors. Companies will be required to submit ICV plans and support domestic manufacturing activities that add value to raw mineral exports. ONE-YEAR TRANSITION PERIOD To ensure a smooth shift, a one-year transitional period has been granted. During this time, companies can conclude existing contracts and adapt to the new system. The Ministry also plans to conduct orientation and training workshops to support stakeholders and build internal capacity. Dr Al Dhahab emphasised that the transformation reflects the Ministry's broader institutional reform following the merger of energy and minerals portfolios. 'With clearer policies, enhanced geological databases and improved investor privileges, we are creating a transparent and regulated business environment that meets the goals of Oman Vision 2040,' he noted. By streamlining mineral exports and empowering a centralised entity, Oman aims to attract more reliable investments, strengthen national industries and secure better returns from its abundant mineral resources. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Yahoo
26-05-2025
- Business
- Yahoo
Trump on Mt. Rushmore? Former CIA Advisor Says It's Not As Far-Fetched As It Sounds
Historic $150 trillion mineral endowment may become the cornerstone of Trump's economic legacy WASHINGTON, May 26, 2025 (GLOBE NEWSWIRE) -- Could Donald Trump's face one day be carved into Mt. Rushmore? According to a former White House advisor, it's not as far-fetched as it may sound. 'Donald Trump could become a national hero… one of the most powerful Presidents in memory,' says Jim Rickards, a former CIA and U.S. Treasury advisor. 'I won't be surprised if his face gets chiseled into Mt. Rushmore.' Rickards isn't referring to campaign slogans or foreign policy—but to a $150 trillion 'national inheritance' that has remained hidden for generations beneath federal lands. Thanks to a recent Supreme Court decision, he says, that wealth is finally being unlocked. 'It's enough to make every single family in America millionaires,' Rickards explains. 'Enough to pay off the national debt, four times over. This 'trust fund' is not a pile of money to be equally distributed… It's not part of a government program or handout,' Rickards explains. A Legacy Hidden in the Land According to Rickards, the opportunity stems from a provision embedded in Title 30 of the U.S. Code, which he says formed the legal basis for a mineral-rich 'national trust fund' over 160 years ago. 'Despite giving away 10% of all land in the United States… the government retained the most valuable part. For 163 years, it's held on to it.' 'This isn't cash or bonds or gold—it's physical resources buried beneath our feet.' For decades, that wealth was inaccessible—choked off by federal regulations enforced through a legal doctrine known as Chevron. The Supreme Court's Quiet Reversal Changes Everything Rickards says the 2024 repeal of the Chevron Doctrine by the Trump-appointed Supreme Court has now shifted the balance—limiting federal agency power and reopening access to the country's mineral wealth. 'They gave agencies like the EPA 'kill shot' power,' Rickards says. 'We have massive mineral wealth here… but the government got in the way.' 'Now… for the first time in half a century—we can go get them.' With the red tape cleared, Rickards says Trump is laying the foundation for a generational economic shift—one rooted in domestic resource development rather than foreign dependence. About Jim Rickards Jim Rickards is an economist, attorney, and former advisor to the CIA, Pentagon, and U.S. Treasury. Over the course of his career, he helped co-create the Petrodollar Accord, played a key role in the Iran Hostage Crisis resolution, and has advised senior government officials on financial crises and national security matters. Today, Rickards serves as the publisher of Strategic Intelligence, a monthly briefing on critical political and economic developments shaping America's future. Media Contact:Derek WarrenPublic Relations ManagerParadigm Press GroupEmail: dwarren@
Yahoo
25-05-2025
- Business
- Yahoo
Petrodollar Architect Says Trump's Latest Move Could Eclipse the Most Powerful Financial Deal in U.S. History
Ex-CIA advisor reveals the overlooked $150 trillion asset that may define America's next chapter BALTIMORE, May 25, 2025 (GLOBE NEWSWIRE) -- In the 1970s, a little-known international accord reshaped global finance: the Petrodollar deal, which ensured oil would be priced in U.S. dollars, securing America's economic dominance for decades. Now, one of the architects of that original agreement says something even bigger is unfolding—right here at home. 'This is the opportunity of a lifetime,' says Jim Rickards, former advisor to the U.S. Treasury, White House, and CIA. 'We're finally unlocking our American Birthright'.'For the first time in half a century—we can go get it.' Rickards is referring to what he calls a $150 trillion national endowment—an overlooked store of natural wealth buried beneath public lands, hidden for more than 160 years. Bigger Than Oil? The Untapped Power of America's Mineral Wealth While the Petrodollar strategy leveraged global oil, Rickards says this new opportunity centers around America's mineral-rich land base—containing vast quantities of copper, gold, lithium, and other critical materials essential for energy, defense, and technology. 'It's enough to make every single family in America millionaires,' Rickards says. 'Enough to pay off the national debt, four times over. 'This 'trust fund' is not a pile of money to be equally distributed… It's not part of a government program or handout,' Rickards explains. Rickards claims this wealth was made possible through changes to Title 30 of the U.S. Code, but access was long suppressed by environmental regulations. 'Despite giving away 10% of all land in the United States… the government retained the most valuable part. For 163 years, it's held on to it.' Why Chevron Was the Barrier—And Trump Took It Down The primary legal barrier, Rickards explains, was the Chevron Doctrine, a decades-old precedent that gave federal agencies sweeping power to interpret and enforce regulation. 'They gave agencies like the EPA 'kill shot' power to stop any mining project they wanted,' Rickards explains. 'We have massive mineral wealth here… but the government got in the way.' In 2024, the Supreme Court—under a Trump-appointed majority—overturned the Chevron Doctrine, paving the way for access to these long-locked resources. 'Now… for the first time in half a century—we can go get them,' Rickards says. 'Trump is re-opening our mineral-rich Federal Lands. And fast-tracking efforts to recover trillions of dollars' worth of resources.' From Foreign Dependence to Domestic Dominance Rickards believes this new shift could reverse decades of economic dependency on foreign powers—particularly China, which currently supplies many of the minerals America needs. 'The United States is the only nation in the world that locks [its own minerals] up,' says a former Department of the Interior insider quoted by Rickards. 'We're finally shifting from scarcity to surplus. From red tape to real recovery.' About Jim Rickards Jim Rickards is a seasoned economist, attorney, and national security advisor who has served in senior roles at the CIA, Pentagon, and U.S. Treasury. In the 1970s, he played a key role in shaping the Petrodollar Accord. He later advised U.S. leadership during the Iran Hostage Crisis and helped forecast the 2008 financial collapse. Today, Rickards publishes Strategic Intelligence, a monthly research initiative focused on geopolitical and economic developments with long-term impact. Media Contact:Derek WarrenPublic Relations ManagerParadigm Press GroupEmail: dwarren@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
