Oman grants Savannah two mining licences
The Public Authority for Mining in Oman has indicated that it will grant London-listed Savannah Resources' subsidiary two mining licences for its high-grade copper developments – Mahab 4 and Maqail South, near the Port of Sohar.
The licences are expected to be granted once new licensing fees have been set under the new mining law, which came into effect on March 14.
Savannah is a 65% shareholder in the Omani company Al Fairuz Mining, the holder of the Block 5 exploration licence, which includes these two high-grade deposits.
"Mahab 4 and Maqail South are examples of the type of high-grade copper deposits that are characteristic of the Oman Ophiolite Belt and will be in the vanguard of new copper mine developments in Oman.
“Block 5 remains highly prospective for the discovery of further high-grade deposits that could further augment the planned hub-and-spoke mine development based around Mahab and Maqail South,” said CEO David Archer.
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