Oman`s 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 the Sultanate’s mineral resources.
Initiative Marks Key Step In Reforming Mineral Management
The initiative was ratified through Ministerial Resolution No 18/2025 and falls under the Ministry’s broader “Majd” initiative. Furthermore, it marks a key step in reforming the mineral management system. Importantly, it will centralise exports under a single national entity while aligning with Vision 2040’s goals of sustainable, diversified economic growth. Last year, Oman produced 14 million tonnes of gypsum across 15 licensed sites and 300,000 tonnes of chrome ore under 29 licensees. Following the new regulation, gypsum and chrome ore exports will be strictly monitored. Chrome exports now require a 36% minimum concentration, while processed ore can be exported at any concentration upon Ministry approval.
Streamlined Approach To Improve Efficiency And Boost National Income
Local needs will be prioritised over exports – a policy that supports domestic manufacturing and ensures stability in local supply chains. In addition, the regulation also seeks to standardise contracts, enhance negotiation leverage with international buyers and improve pricing transparency. A subsidiary of Minerals Development Oman, the new firm will manage exports, contract terms, enforce quality and negotiate international sales. This streamlined approach is expected to lift the average price of Omani minerals and boost national income. Importantly, the decision will improve the efficiency of logistics and export operations while increasing transparency and curbing rent-seeking behaviour. Furthermore, it aims to support SMEs involved in supply chains and create additional jobs through in-country value (ICV) initiatives. Companies will be required to submit ICV plans and support domestic manufacturing activities that add value to raw mineral exports.
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