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Significance
Muscat is intensifying efforts to develop the mining and minerals sector as part of its Vision 2040 economic development and diversification strategy. MDO, under the auspices of the Oman Investment Authority (OIA, the sovereign wealth fund), is actively seeking investment in the sector.
Impacts
Efforts will intensify to find private partners for MDO projects to reduce the burden on public finances as oil revenues decline.
State-led mining activity will increasingly be geared towards supply of the materials needed by the domestic green hydrogen industry.
Focus will sharpen on accelerating the progression of projects from exploration to basic production and downstream processing.
Keywords:
Oman,
ME/NAF,
economy,
industry,
foreign investment,
investment,
metals,
mining,
private sector,
public sector,
gas,
oil,
renewable energy,
Fossil fuels,
Renewable energy,
Metals & mining
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2025
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