Muscat: Green Tech Mining & Services LLC, a joint venture between Oman Mining Company and Austria-based BPG Precious Metal Storage Plc (BPG), has achieved a significant milestone in its journey towards environmentally responsible mining practices. BPG, the parent company, has been awarded the prestigious Austrian Ecolabel by Austria's Federal Ministry for Climate Protection, Environment, Energy, Mobility, Infrastructure, and Technology (BMK). This recognition sets Green Tech Mining & Services position as a pioneer in aligning its mine tailings remediation project in Oman with global ecological and social sustainability standards.

The Austrian Ecolabel for Sustainable Financial Products validates the company’s integration of ecological and social considerations in its operations, in line with the United Nations Sustainable Development Goals (SDGs). This certification guarantees adherence to rigorous standards for projects financed through Green Bonds, with independent audits reinforcing a commitment to transparency and accountability.

Adding to this momentum, BPG Precious Metal Storage Plc, a company with their focus in sustainable practices within the mining industry, has announced the issuance of a Green Bond aimed at fully financing their Oman project that aligns with its environmental and sustainability goals. Known for its innovative approaches to tailings remediation, sustainable resource recovery, and the rehabilitation of legacy mining sites, BPG remains persistent in its commitment to responsible mining and adherence to global environmental standards.

The Green Bond, developed under the guidelines of the Green Bond Principles (GBP) by the International Capital Market Association (ICMA), reflects BPG’s dedication to transparency, accountability, and ecological stewardship. The bond aligns with the EU Taxonomy’s environmental objectives and Paris Climate Agreement goals, targeting key impact areas such as pollution prevention, sustainable water management, climate change adaptation, and environmentally sound resource management.

“We are honoured to lead the way in sustainability as the first Company in the GCC to achieve this prestigious recognition,” said Ernst Grissemann, Chairman of Green Tech Mining & Services LLC. “This award highlights our dedication to responsible financial investment through Green Bonds, marking the world’s first one-of-a-kind mining remediation project to leverage such funding while prioritizing social well-being and environmental preservation.”

As a key player to support Oman’s mining industry, Green Tech Mining & Services is setting new benchmarks in resource recovery with sustainability at its core. The company is set to launch the first phase of its remediation and copper cathode production in January 2025, using advanced technologies to recover valuable resources from historical mine tailings while minimizing environmental impact.

The Austrian Ecolabel certification not only highlights Green Tech Mining & Services’ leadership in sustainable mining but also sets a benchmark for advancing sustainability in Oman’s mining sector. By adhering to global best practices, the company along with its stakeholders fosters ecological responsibility while contributing to the nation’s broader development goals.

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