PROJECT
DETAILS
Oman's
Economic Vision
- To continue mineral exploration
- Feasibility study of the mineral deposit to enable development by
Industries
- Encourage local companies to utilize local raw material
- Better coordination between the Govt. and private sector
- Encourage international Companies to invest in Oman
Oman's Mineral Policy
- Utilize the minerals for local industries or export with value addition
- Export minerals in surplus quantity
- Avoid monopolization
- Encourage International Co.s to invest in mining sector in Oman
Attractions for investment in minerals sector
- Promising geology
- Excellent infrastructure available
- Good Mining regulations
- Availability of cheap energy
- Incentives on utilizing local raw material
- Incentive on Investments
Royalty
| Existing |
Proposed |
| 5% of
the net value - Ferrous, Non-ferrous metals, precious metals and building
materials. |
2% of
the net value - on all minerals on the "net back value" |
| 2% of
the net value on Industrial Minerals |
5%
of the net value - on Diamonds
Note: Additional Resource Charges
Taxable on cash flow that remains after the deduction of Royalty and
Income Tax provided the IRR is more than 20% of the initial funds
out laid for investment & development. |
| 15%
of the net value on Diamond, Ruby & Other Precious Stones |
Mineral Production for the year 1998 & 1999
| Mineral |
Year
1998 |
Year
1999 |
| No.
of cos. |
Prod.
Metric Tons |
Prod.
in Value (RO.) |
%
of Total |
No.
of cos. |
Prod.
Metric Tons |
Prod.
in Value (RO.) |
%
of Value |
| Marble |
10 |
115,748 |
1,628,340 |
5.60 |
11 |
188,545 |
2,213,446 |
7.36 |
| Limestone |
4 |
2,381,143 |
3,755,976 |
12.94 |
4 |
3,808,630 |
7,617,260 |
25.34 |
| Gypsum |
4 |
189,507 |
568,521 |
1.97 |
2 |
180,129 |
518,559 |
1.72 |
| Salt |
1 |
13,778 |
801,738 |
2.76 |
1 |
11,225 |
601,569 |
2.00 |
| Chromite |
1 |
29,756 |
1,426,396 |
4.90 |
1 |
26,009 |
1,071,260 |
3.56 |
| Laterite |
2 |
37,640 |
112,920 |
0.39 |
2 |
47,073 |
141,219 |
0.47 |
| Gold |
1 |
0.588 |
2,066,423 |
7.12 |
1 |
0.597 |
2,011,479 |
6.69 |
| Building
Material |
83 |
19,775,680 |
18,675,859 |
64.32 |
93 |
15,681,951 |
15,893,718 |
52.86 |
| Total |
106 |
22,543,252 |
29,036,073 |
100 |
113 |
19,943,562 |
30,068,510 |
100 |
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