110 mining blocks in Oman
OMAN’S Public Authority for Mining (PAM), the nodal agency for regulation and policy-making governing all mining and mineral related activities in the sultanate, has identified as many as 110 new mining blocks for investment in key locations around the country, said a report.
The authority is currently carrying out efforts to secure the requisite permits from an array of government ministries and agencies whose approvals are mandatory under existing statutes before exploration and developmental work can commence at any of these sites, added the Oman Daily Observer report.
Senaat, Tubacex form JV
Senaat, one of the largest industrial investment holding companies in the UAE, has agreed the terms of a joint venture with Spain-based Tubacex, a global leader in the manufacture of stainless steel and high-alloyed tubular products (tubes and accessories). Senaat’s new partnership with Tubacex is being cemented with the signing of an agreement to jointly acquire Dubai-based Nobu Group, said a company statement.
Octal to invest $50m in PET
OMAN-based Octal, a leading PET sheet producer and leading integrated packaging company, will be investing a minimum of $50 million this year in its polyethylene terephthalate (PET) sheet business in the sultanate, said a report.
The outlay will largely be in PET sheet capacity expansion to improve the existing machinery, increase operational efficiencies and generate cost savings, added the Times of Oman report.
Record aluminium exports
CHINA’S smelters exported 552,000 metric tonnes (mt) of aluminium last month, improving over December’s revised total of 520,000mt, according to government data. The latest figures crossed the previous high-mark of 542,700mt in December 2014, said a Reuters report quoting data from China’s Customs department. The export increase has been credited to the continued tepid domestic demand. With January’s total included, China has shipped at least half a million metric tonnes each month for seven of the last eight months.
