MUSCAT - South West Pinnacle Exploration Limited (SWPEL), an integrated mining services provider offering end-to-end drilling and exploration services, has announced its participation in an Oman-led consortium that was recently awarded a concession to mine for copper, gold and other minerals in Oman’s North Al Sharqiyah Governorate.

Gurgaon-Haryana headquartered SWPEL revealed in a filing to National Stock Exchange in New Delhi that it holds a 17.5 per cent stake in Al Hadeetha Mining LLC, an Oman-based firm that was earlier awarded Block 22B, a 1,452 km2 concession thought to be rich in silver, chromite and basalt as well. Oman’s Minister of Energy and Minerals Eng Salim bin Nasser al Aufi signed the concession agreement on Wednesday.

Besides South West Pinnacle Exploration as a partner, Al Hadeetha Mining also groups Australian based mining exploration firm Alara Oman Operations Pty Limited, Al Tasnim Mining LLC (Oman), and Al Hadeetha Investment Services LLC (Oman).

Significantly, the partnership with Al Hadeetha Mining builds on South West Pinnacle’s presence in Oman’s mining sector.

The Indian firm already provides mining services under a long-term contract for copper and gold mining through its joint venture Alara Resources LLC, which has a majority stake in Al Hadeetha Resources currently engaged in producing copper and gold from the Al Washihi Al Majaza mine also in North Al Sharqiyah.

Since the commencement of operations early last year, the company has so far exported a total of 10 shipments of copper concentrates to date, with each shipment yielding an average of over 200 metric tonnes of copper and around 6kg of gold.

Australian miner Alara Resources has a 27.5 per cent stake in Al Hadeetha Mining. Stephen Gethin, Chairman – Alara Resources, commented: “We are proud to be part of a consortium that has already demonstrated success with the Al Washhi Al Majaza Copper-Gold Project and we are confident of delivering similar success for Block 22B. 

The award of this concession reinforces Alara’s ongoing commitment to Oman’s growing mining industry and to bring sustainable value to the local economy.”

Sayyed Khalid Al Busaidi, Chairman of Al Hadeetha Investment, stated: “We are truly honoured to collaborate with the Ministry of Energy and Minerals and our esteemed partners to drive the success of this significant project.

Moreover, this agreement not only contributes to advancing Oman’s mining industry but also creates employment opportunities for the local communities, fostering economic growth and social development.”

Devaki Khimji, Managing Director of Al Tasnim Mining LLC, added: “As a proud Omani entity, we are deeply committed to supporting the Sultanate’s Vision 2040 by fostering economic diversification and investing in sustainable development initiatives. Block 22B represents a significant opportunity to create value, empower local communities, and promote environmental stewardship through responsible mining practices.”

Vikas Jain, Managing Director of South West Pinnacle Exploration Limited, commented: “We are very bullish about investments in Oman.We have already invested in Oman through Alara Resources LLC, a JV involving three partners. This is our second investment as SWPEL in Oman, based on the great potential of the mining sector in the Sultanate. We are keen to make further investments in this sector in times ahead.”

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