Alara Resources Ready For First Copper-Gold Shipment From Omani Mine

Alara Resources Ltd (ASX: AUQ) is ready to send the first shipment of copper-gold concentrate produced at the Alara’s Al Wash-hi Majaza Copper Mine in Oman.

The concentrate will be loaded on board ship on 27 May, marking the start of revenue generation from the mine.

Importantly, this is a long-awaited milestone for Alara’s 51% owned Oman JV, Al Hadeetha Resources LLC.

Renewal of Block-8 Exploration License

Meanwhile, the Omani Ministry of Energy and Minerals has renewed the exploration license over a 497 square kilometres area titled “Block 8” held by Alara’s Omani JV company Awtad Copper LLC.

Alara currently holds a 10% interest in the JV with the right to increase this to up to 70%.

The Block 8 Exploration License lies within the Samail Ophiolite Sequence, 150km west of Muscat.

Potential for fresh discoveries

More than 150 volcanic massive sulphide (VMS) prospects have been discovered along the 500km length of the Samail Ophiolite.

Block 8 is part of this geological belt and is distinguished by extensive regolith cover over exposed geology.

Because of this cover, no known copper mineralisation has yet been located in the area, making the Block an ideal location for potential fresh discoveries of base metal deposits.

Exciting times for copper mining

 Alara Managing Director Atmavireshwar Sthapak said: “We are very grateful to the Ministry of Energy and Minerals and our joint venture partners in Awtad Copper LLC for concluding this long-pending exploration license renewal process.

 “With the grant of a mining concession over Block 22B and the renewal of this license, Alara and partners now have the right to explore more than 1900 km2 ground in Oman.”

Sthapak added that these are exciting times for the global copper mining sector, which is urgently seeking new deposits around the world.

 

Disclaimer

JustStocks provides data and commentary that constitutes general information only. This does not constitute personal, financial or professional advice or assistance. The data and information compiled do not consider your investment objectives or your financial circumstances. JustStocks cannot guarantee this website’s accuracy, completeness, or timeliness. JustStocks accepts no responsibility regarding any inaccuracy, omission, or change in information or articles or the data provided. The information published on this site/page should not be relied upon as a substitute for personal financial or professional advice. The information provided may not be appropriate for your circumstances or needs. JustStocks recommends that you seek professional advice from a qualified advisor before you make any decisions.

Articles of Interest