New mining law to be announced in the first half of 2017
MUSCAT: A new mining law, drafted by the Public Authority for Mining (PAM), is expected to be announced in the first half of this year.
The law will focus on making Oman’s mining environment more attractive to investors and develop industry in Oman using extracted minerals and metals to cater before being exported, according to a top-level official at PAM. “We are expecting to have the law passed by mid of this year,” said Ali Al Rajahi, Director General of Research and Geological surveys.
“The law will focus on several areas, which include developing the local community and environment of mining. A very important factor is changing the people’s mentality towards mining sector. We will work to help local communities develop through mining activities,” he added.
“We have progressed very satisfactorily so far. The proposed law was finalised by all reviewing parties and now it is with the Council of Ministers and it will be send to Majlis Al’Shura,” said Hilal Al Busaidi, chief executive officer of Public Authority for Mining (PAM). The proposed law is also expected to streamline the presently tedious process of obtaining licence for mining. The licence period will also extend from one year to five years.
In the new law, PAM is focusing on offering more attention for investing in the sector,increasing the validity period of mining permits, facilitate the process of acquiring approvals, providing mining areas for investment and identifying the investment competition procedures, setting stricter penalties in regard of mining violations, giving wider powers for inspectors and law enforcement officials, providing legal protection for geological heritage and taking part in community development.
Another official at a mining firm said that new laws are required soon. “The earlier law will not work now. It is hard to develop the sector with it and we need new regulations fast. The mining sector is very young in Oman and it can be crucial to develop the industry. I think the earlier the law comes out the better,” he said.