Mining

Significant legislative developments in 2019 laid the groundwork for growth in Oman’s mining sector. The full extent of the country’s mineral wealth has only recently been realised, and with a number of projects under way across the sultanate, the sector has strong potential to affect positive economic diversification. At the same time, a welcoming climate for foreign investment and rapidly developing infrastructure demonstrates that companies are taking a holistic approach to the sector. Furthermore, investment in local downstream processing could lead to an increase in profits earned from raw resources. According to the Central Bank of Oman in its Annual Report for 2018, the country’s mining sector recorded the highest rate of growth among non-oil activities, at 16%.