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FINANCIAL NEWS
Oman Oil in first mining venture
13 Mar 2014
(MENAFN) Oman Oil Company (OOC) said that it plans for its first mining business in Oman, Times of Oman reported.
OOC has signed a memorandum of understanding with Mawarid Mining and Oman Mining Company for the development of the Yanqul copper project.
OOC”s investment will be for an equity stake of 41 percent when a definitive feasibility study for the project is complete.
Mawarid Mining will have an equity stake of 49 percent, with the remaining going to Oman Mining Company.
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