Muscat: The Ministry of Energy and Minerals continues its efforts to develop legislative and regulatory system for the minerals sector in line with best global practices. It also aims to further enhance the Sultanate of Oman’s position as an attractive destination for mining investments.
In this context, the amendments to the Mineral Wealth Law issued by Royal Decree No. (69/2026) came to launch a new phase of legislative and regulatory development, based on raising the efficiency of managing and investing mineral resources as well as enhancing competitiveness and transparency. It further aims in accelerating the development of mining projects, in a way that contributes to maximising the economic value of mineral wealth and supporting the objectives of economic diversification.
The amendments represent a qualitative step towards providing a clearer and more efficient investment environment, through developing mechanisms for offering mining sites and granting licenses and concessions. It further aims in enhancing the technical competence and financial solvency requirements of investors, and regulating the rights and obligations associated with mining activities, in a way that contributes to attracting quality investments and stimulating the growth of the sector.
In this context, Engineer Saud bin Khamis Al Mahrouqi, Director General of Minerals at the Ministry of Energy and Minerals, affirmed that developing the legislative system is one of the fundamental pillars for enhancing the competitiveness of the minerals sector and increasing its contribution to the national economy.
He pointed out that the new amendments reflect the Ministry’s direction towards providing a more efficient and transparent investment environment, establishing clarity in the procedures regulating investment, enhancing investor confidence, and enabling mining projects to move at a faster pace from the exploration and prospecting stages to the development, exploitation, and production stages.
He added in a statement to the Oman News Agency that these amendments contribute to attracting investors capable of developing mineral resources according to the highest technical and economic standards. They also support the protection of mineral wealth and consolidate the principles of governance and sustainability, thus achieving a balance between maximising the benefit from natural resources and preserving them for future generations, and contributing to achieving the goals of Oman Vision 2040.
He explained that competition and transparency promote the principle of competition in allocating mining sites by adopting mechanisms for offering based on openness, equal opportunities, equality and freedom of competition, which raises the quality of investments attracted and enhances the efficiency of exploiting mineral resources.
He pointed out that the amendments support raising the level of investment seriousness by linking financial guarantees to the size of the proposed projects and investments, which enhances the commitment of investors to implement the approved technical and investment programmes. It also further seeks to consolidate the principles of governance and financial responsibility in the sector.
The amendments also strengthened the governance of mining rights by regulating the procedures related to changing the legal form of the investor, transferring ownership, waiving rights, or introducing new partners, in order to ensure the continuity of obligations related to licenses and maintain the stability of mining projects.
He said that one of the most prominent aspects addressed by the amendments is regulating the transition from the exploration phase to the exploitation phase more clearly, by granting the exploration licensee priority in obtaining an exploitation license when proving the existence of mineral ores in commercial quantities according to the specified controls. This in turn contributes to accelerating the development of projects and converting the results of exploration and prospecting work into actual productive investments.
The Director General of Minerals at the Ministry of Energy and Minerals added that the amendments strengthened the legal protection of mineral resources by increasing penalties for violations, including extracting raw materials without a license, exploiting sites outside authorised boundaries, or continuing extraction after the license expires, thus enhancing deterrence and preserving the state’s rights and natural resources.
In contrast, the amendments established a legal framework for reconciliation in certain specific violations, in accordance with the stipulated controls and conditions, in order to achieve a balance between the effectiveness of oversight and the continuity of investment activities, while ensuring compliance with the provisions of the law.
He pointed out that the amendments took into account the stability of existing investments and licenses, as licenses issued before the amendments came into effect will continue to be used until their expiry date, while renewal procedures and applications that have not yet been decided will be subject to the updated regulatory framework, in order to ensure an orderly transition to the new system and maintain the continuity of existing businesses and projects.
He stressed that these amendments are part of the Ministry of Energy and Minerals’ efforts to develop an integrated legislative and regulatory system for the minerals sector, based on competition, transparency and efficiency in resource management. These amendments also helps in attracting quality investments, stimulating the transition from exploration to production, and enhancing governance and compliance, thereby increasing the efficiency of mineral wealth investment and enhancing the sector’s sustainability.
Engineer Saud bin Khamis Al Mahrouqi said that the improved legislative system is expected to contribute to creating a more attractive environment for mining investments, enhancing the seriousness of projects and accelerating their transition to development and production stages, and increasing the economic value achieved from mineral resources. These will in turn support the growth of industrial activities related to the sector and enhances the contribution of minerals to diversifying the economic base of the Sultanate of Oman.