South West Pinnacle secures Rs 30 crore Oman mining contract for copper, gold & chromite

Through its JV Alara Resources LLC Oman, the explorer will execute a two-year mandate in concession areas 12B & 13 awarded by Minerals Development Oman

New Delhi: South West Pinnacle Exploration Ltd on Friday said it has secured an approximately Rs 30 crore contract from Minerals Development Oman (MDO) for the exploration and mining of copper, gold and chromite in Oman’s concession areas 12 B and 13.

The work will be carried out over a period of roughly two years through its joint venture company, Alara Resources LLC (ARL) Oman, the company said in a regulatory filing.

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MDO, a strategic partnership between the Oman Investment Authority and Oman National Investments Development Company (TANMIA) has a principal mandate to drive the monetisation of Oman’s mineral resources.

South West Pinnacle Exploration Ltd is a private exploration services firm operating in the mineral and unconventional energy sectors.