Pact signed for min­ing sec­tor devel­op­ment

Muscat Daily - - NATION -

Mus­cat - The Pub­lic Au­thor­ity for Min­ing (PAM) on Mon­day signed a pact with SRK Con­sult­ing and its sup­port­ive com­pa­nies, Mayer Brown and Wood Macken­zie, to im­ple­ment Oman Min­ing Strat­egy. The agree­ment was signed by Eng Hi­lal bin Mo­hammed al Bu­saidi, CEO of PAM and of­fi­cials of the con­trac­tors. “This pact comes as part of the steady ef­forts made by PAM since the end of 2015 to com­plete the sys­tem for pre­par­ing and de­vel­op­ing all stages of the min­ing sec­tor,” said Eng Bu­saidi.

“This stage is re­lated to de­vel­op­ing the gen­eral strat­egy of the min­ing sec­tor, which is one of the five pri­ori­tised sec­tors in the ninth five-year plan in a bid to achieve the aims of the sul­tanate with re­gard to de­vel­op­ing the sec­tor and en­sur­ing sus­tain­able devel­op­ment. Hope­fully, the strat­egy will high­light the growth of the sec­tor in the next ten years. The strat­egy, which will be im­ple­mented start­ing from 2018, will con­trib­ute to achiev­ing Oman Vi­sion 2040,” he added.

“Fig­ures point out that the con­tri­bu­tion of the min­ing sec­tor to the GDP stands at 0.14 per cent. Through study­ing in­vest­ments as well as through pro­grammes and ini­tia­tives, PAM will seek to max­imise the con­tri­bu­tion of the sec­tor to the GDP.”

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