Joint venture firm to produce copper, gold from mine in Oman

Muscat: Al Hadeetha Resources, a 70:30 joint venture between Australia-based Alara Resources and Oman’s Al Hadeetha Investment Services, has decided to develop its copper-gold project at Washihi, around 160km south-east of Muscat. This follows a feasibility study showing financial viability.
The company plans to invest $50 million for commercial open pit mine and the construction will take one year, Justin Richard, chief executive officer of Alara Resources, told ‘Times of Oman’.
“It is primarily a copper field. However, the mine has gold deposits as well,” he added.
As per the feasibility findings, the company will be able to produce 77,000 tonnes of copper and 18,000 ounce of gold. The project construction will start in the fourth quarter of this year, subject to the company getting a mining licence from the Public Authority for Mining. Production from the Al Hadeetha project is scheduled to commence in the third quarter of 2017, added Richard.
The feasibility study shows the project will generate $434 million in revenue over a period of ten years. Further, exploration targets have been identified which could double the mining inventory of the project.
Al Hadeetha Resources has invested over $8 million in the development of this project and look forward to commencing mine construction as soon as possible.
The feasibility study was completed with support from both local and international consultants, but Alara recognises this milestone could not have been achieved without the support of the joint venture partner AlHadeetha Investments (which is chaired by Sayyid Khalid bin Hamad bin Saif Al Busaidy).
Al Hadeetha Resources is committed to the responsible development of these assets and sees great growth potential within the mining sector as Oman continues implementing its strategy of a more diversified economy.
The company’s process plant is designed to process one million tonnes of copper and gold mearing mineralised material per annum. The process plant’s throughput rate is 142 tonnes per hour.