Deals27 Jun 2025, 11:03 am
South West Pinnacle Exploration Ltd's Joint Venture Company, Alara Resources LLC, Awarded Mining Contract in Oman Worth INR 30 Crores
AI Summary
South West Pinnacle Exploration Ltd, through its joint venture company Alara Resources LLC (ARL) Oman, has been awarded an exploration and mining contract for copper, gold, and chromite in concession areas 12 B and 13 in Oman by Minerals Development Oman (MDO). The contract, valued at OMR~™13,56,000 (INR 30 Crores), will be executed over a period of two years. MDO is a strategic partnership between Oman Investment Authority and Oman National Investments Development Company (TANMIA) aimed at monetizing Oman’s mineral resources.
Key Highlights
- South West Pinnacle Exploration Ltd's Joint Venture Company, Alara Resources LLC, has been awarded a mining contract in Oman.
- The contract is for exploration and mining of copper, gold, and chromite in concession areas 12 B and 13 in Oman.
- The contract is worth OMR~™13,56,000 (INR 30 Crores) and will be executed over a period of two years.
- Minerals Development Oman (MDO) is a strategic partnership between Oman Investment Authority and Oman National Investments Development Company (TANMIA).
- MDO's principal mandate is to drive the monetization of Oman’s mineral resources.