Oman
Legislation
- Mineral Resources Law 2019
- Regulation of the Issuance of Environmental Permits 2017
Regulatory Risk Rating
Regulatory Risk
Regulatory Corruption Risk
Regulatory Corruption Risk
Corruption Exposure Risk
Corruption Exposure Risk
| Regulatory Risk Rating Factors | Risk Level |
|---|---|
| First Come / First Serve | Subscribe |
| Application Criteria | Subscribe |
| Duration | Subscribe |
| Right to Renew | Subscribe |
| Competing Licences | Subscribe |
| Mineral Coverage | Subscribe |
| Right to Mine | Subscribe |
| Criteria for Mining Rights | Subscribe |
| Tenure | Subscribe |
| Surface Rights | Subscribe |
| Government Take | Subscribe |
| Transfer Rights | Subscribe |
| Change of Control | Subscribe |
| EIA Process | Subscribe |
| Power to Revoke | Subscribe |
| Age of Legislation | Subscribe |
| Other Factors | Subscribe |
Oman’s mining law has been modernised in an attempt to grow the country’s mineral sector. Unfortunately, improvements on the face of the legislation and the opening up of the sector to foreign investment do not run deep. In truth, the sector is as tightly controlled as it was before, primarily due to the fact that the new legal framework has retained the inherent discretion in virtually all aspects of the development process which was present under the previous law. If Oman is serious about growing the sector with foreign, rather than local investment, further reform will be imperative.
Contents
Legislation
- Mineral Resources Law 2019
- Regulation of the Issuance of Environmental Permits 2017
Regulatory Risk Rating
Regulatory Risk
Regulatory Corruption Risk
Regulatory Corruption Risk
Corruption Exposure Risk
Corruption Exposure Risk
Overview
Oman has targeted the mineral sector as a key part of the country’s efforts to diversify its economy. To this end, a new mineral law was passed in 2019 and previous restrictions on foreign investment were also relaxed in the same year. Oman’s mineral wealth is considered to be relatively untapped – with only around a third of available minerals currently mined. The country is said to be home to copper, gold, limestone, gypsum and marble, though many of the existing mining operations are focused on industrial minerals. Various concession rounds have been held since the new law was enacted. Though foreign interest has increased, the sector is currently dominated by State-owned, Minerals Development Oman (MDO), which is said to be the government’s preferred concession partner. The MDO is heavily invested in the industry and holds numerous mineral rights around the country.
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