Oman's long-awaited new Mining Law* comes into
effect on 14 March 2019, bringing in hopes of attracting new
investment and revitalising its mining industry. The mining
industry has been targeted as one of five key sectors to drive
Oman's economic growth and diversification. Concurrent with the
passage of the new Mining Law, the Public Authority for Mining
("PAM") announced the identification of new mining
projects and initiatives with an investment value of over $2
billion. The new Mining Law provides a far more robust framework
for the mining sector intended to provide more incentives,
transparency and certainty to investors, while at the same time
balancing the PAM's oversight role, the interests of local
communities, the prioritisation of local employment, the protection
of the environment and the enforcement of investment commitments.
This article outlines the key developments of the new law.
