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Aldar sells mega project plots for school, hypermarket, clinic

Scion Industries

Aldar Properties has announced it has sold two plots of land in mega project Alghadeer for community services.

The contracts will see British curriculum Alghadeer International School and retail outlets including LuLu supermarket and a community clinic open in the community close to the Abu Dhabi-Dubai border in 2021.

Talal Al Dhiyebi, CEO, Aldar said: “The addition of Alghadeer International School, retail outlets, LuLu supermarket and clinic will increase the range of convenience-driven amenities and facilities for existing and future residents at Alghadeer, creating more complete neighbourhoods.

“Developing this community shows the momentum in the Alghadeer development and is in line with our strategy to deliver desirable destinations and provide residents with a truly enriched community living experience focused on comfort, accessibility and convenience.”

Alghadeer’s new masterplan comprises of 14,408 home including villas, townhouses, and maisonettes which will be complemented by office space, retail space, hospitality, education and community amenities.

The new Alghadeer masterplan incorporates Aldar’s existing community of the same name which boasts over 2,000 homes and is a thriving destination for many families.

The retail amenities will be spread over more than 30,000 square metres and will include a range of outlets as well as a community clinic. The LuLu supermarket, retail outlets and clinic will be operational in 2021.

Alghadeer International School, which is set to offer places for 1,500 students, is to be operational from September 2020.

Source: http://www.arabianbusiness.com/construction/394387-aldar-sells-mega-project-plots-for-school-hypermarket-clinic

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UAE Steel Industry Outlook 2020

Manufacturer and Exporter of Scrap Grinder Machine

Steel is a major component in buildings, tools, automobiles, and appliances, hence making steel consumption an important indicator of economic growth and prosperity. GCC steel production is fairly fragmented, and UAE’s steel demand has made it one of the largest consumers in the GCC region. The region is investing Billions of Dollar in construction projects, mostly in preparations for World Expo 2020 in Dubai and FIFA World Cup 2022 in Qatar. It is anticipated that steel consumption in UAE will grow at a CAGR of 8% during 2016-2020.

In the latest research report “UAE Steel Industry Outlook 2020”, our analysts have studied the UAE steel industry’s performance, which is currently a key growth market in terms of production, consumption, import and exports due to the fast-expanding construction & infrastructure sector. The research is an outcome of extensive primary & secondary research, and thorough analysis of industry trends.

The UAE steel industry worldwide has been experiencing growth in the region, and the country’s key players are holding a strong imprint in the steel market globally. In addition, it also covers the production and consumption forecast till 2020 of crude and finished steel. Finished steel has been further segmented into long and flat products. Long products have been further classified into rebar and structural sections. Extensive research and analysis revealed that long products occupy the maximum share in finished steel consumption. In long products, rebar dominates finished steel consumption in UAE. Similarly, flat products have been segmented into coils, strips & sheets and plates. Our comprehensive report has closely studied and provided market forecast till 2020 for production and consumption of both long & flat products and their types.

It further provides a comprehensive analysis of UAE’s steel export and import, which includes the steel trade scenario by product, covering ingots and semi-finished steel, long products, flat products and tubular products. In addition, the section provides a list of major countries involved in the export of steel to UAE.

The report has also provided a brief overview of the drivers and competitive landscape covering the profiles & key management people of various industry players. Thus, the report covers all the important aspects of the UAE steel industry, which will prove decisive for the clients. Overall, the report is an outcome of extensive research and prudent analysis, and is meant to offer suitable knowledge base to those who are interested in the UAE steel industry.

Source:https://www.researchandmarkets.com/reports/3633967/uae-steel-industry-outlook-2020

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LOOK-AHEAD 2018: Bright outlook for UAE economy

Rotomoulding machine suppliers

A partial recovery in oil prices coupled with an ongoing all-out diversification drive and the landmark tax reform, will help the UAE economy to gain increased momentum in 2018 to register 3.3 per cent growth.

After an expected slowdown to 1.7 per cent in 2017, such a vibrant pace of growth predicted for 2018 signifies a virtual turnaround for the economy with a two-fold growth, driven by a rebound in gross domestic product by Dubai and Abu Dhabi, analysts and economists said.

While the ongoing fast-track diversification aimed at further reducing reliance on crude oil revenues will better place the UAE to entrench itself from further volatility in oil fortunes, a five per cent value added tax will help boost state revenues by Dh12 billion per annum, adding about 1.5 to two per cent to GDP.

VAT, which represents a major shift in tax policy, will impact all segments of the economy, leading to a fundamental change in the way businesses operate across around the region.

James Mathew, group CEO at Crowe Horwath (UAE and Oman), said VAT would bring in transparency, which will help the financial sector to differentiate between genuine businesses and suitcase operators. “Obtaining credit facility from banks will become easier for small and medium enterprises in the UAE after the implementation of VAT as companies will have to maintain their books from next year. The genuine SMEs will be able to get more finance because their turnover will not be questioned by the lenders as their records will be clean.”

Mathew said the UAE has been known for its tax-free status and a move towards introducing tax may need a significant overhaul of how the business operates in the region especially for the unorganised SME sector.

“SMEs are going to face challenges implementing the new tax laws as compared to larger organisations which are normally operated with proper operating policies and structures. SMEs are the backbone of the Dubai economy, representing 95 per cent of all establishments in the emirate. Almost half of SMEs in the UAE are in Dubai [45 per cent], while 32 per cent are in Abu Dhabi and 16 per cent in Sharjah. The other emirates account for seven per cent.”

Sultan bin Saeed Al Mansouri, UAE Minister of Economy, said that the outlook for the economy is brightening despite regional and global macroeconomic challenges. “With two years into Expo 2020 Dubai, the economic growth momentum is expected to pick up on the back of a vibrant non-oil sector as the country remains on track to establish a diverse knowledge- and innovation-driven economy,” he said.

Most forecasts show that Abu Dhabi’s GDP growth is expected to pick up in 2017 to 3.9 per cent and 4.7 per cent in 2018 – outpacing the overall UAE’s GDP growth rates over the same period respectively, analysts at Knight Frank said in their UAE Market Review and Forecast 2018.

In Dubai, as the economy diversifies in line with Dubai Plan 2021, GDP growth is expected to grow 3.2 per cent in 2017 and begin to strengthen in 2018 to 3.5 per cent. Hafez Ghanem, World Bank vice-president for the Middle East and North Africa, said Dubai is a good example of how an oil exporter should diversify.

Resilient to global and regional headwinds, the UAE economy has already outpaced the rest of the GCC in economic growth in 2017 by making slow but steady progress. Forecasts by the International Monetary Fund and other institutions endorse the optimism shared by analysts.

The IMF said in its latest outlook that better days are ahead for the UAE with the economy right on track for a rebound with a 3.4 per cent surge in 2018.

Jihad Azour, director of the Middle East and Central Asia at the IMF, projected a 1.3 per cent growth in the UAE’s real GDP in 2017, while the overall GCC growth is expected to bottom out at 0.5 per cent this year, the lowest since the 0.3 per cent growth recorded in 2009 in the wake of the global financial crisis.

A forecast by the Institute of International Finance said the UAE would continue to be the best-managed economy in the region. The UAE possesses large financial buffers – estimated at around $670 billion – on top of its renowned safe-haven status, excellent infrastructure and a relatively diversified business-friendly economy. All these advantages will help the economy cope with the prolonged low oil price environment, the IIF said.

The UAE is firmly on course to be one of the best performers among Middle East and North African economies over the next five years as its vibrant growth continues to be driven by trade and tourism. Garbis Iradian, chief economist at the IIF, said despite predictions of a slowdown in economic growth elsewhere in the region, the UAE’s economic performance would improve in 2017 and 2018 with firming oil prices, an improvement in global trade and the expected easing pace of fiscal adjustment. But headline growth (oil and non-oil combined) will decelerate to 1.5 per cent in 2017 due to oil production cuts under the extended Opec agreement.

The country’s bold and decisive diversification into tourism, non-hydrocarbon trade and financial services will continue to mitigate the adverse impact of low oil prices. At present, hydrocarbon GDP accounts for only 30 per cent of total GDP and oil exports for slightly less than 40 per cent of total exports.

The IIF expects non-oil real GDP growth to accelerate to three per cent in 2017 and 3.5 per cent in 2018, supported by investment and non-oil exports of goods and services. Several high-frequency economic indicators, including the purchasing managers’ index, retail sales and number of tourist arrivals over the first nine months of 2017, suggest improvement in sentiment and private sector activity. The UAE is also pressing ahead with its drive to improve the business environment and competitiveness, even from an already high global ranking by the World Bank and the World Economic Forum.

The PMI averaged 55.8 in the first three quarters of 2017 as compared with 53.8 during the same period of last year (a 50.0 threshold separates expansion from contraction). Non-oil activity in Abu Dhabi is improving after a challenging two years during which deep government spending cuts slowed activity. Key projects, such as the construction of nuclear plants and airport expansion, are progressing, albeit with delays.

In the banking sector, which is well-regulated and supervised, the UAE will witness annual credit growth recovering from 1.7 per cent at end-2017 to about five per cent in 2018.

As the UAE continues to weather the effects of low oil prices and the moderation in non-oil economic activity, inflation is forecast to remain subdued as the continued decline in rents offsets higher imports prices while inflationary pressures from the introduction of VAT early next year will be partly offset by further declines in rents, analysts pointed out.

A joint report by the Institute of Chartered Accountants in England and Wales and Oxford Economics says that the UAE will record an accelerated growth in 2018 to 3.6 per cent from 1.7 per cent in 2017. The momentum will further gain pace in 2019 to post 3.6 per cent growth.

In the latest World Competitiveness Ranking of 63 countries by the IMD World Competitiveness Centre, issued in May 2017, the UAE rose to 10th place, making it the only Arab country to find a place among the super league of the global top nations.

In the most recent edition of the Global Competitiveness Report 2017-2018, issued by the WEF, the UAE topped the Arab world and ranked 17th globally in the global competitiveness ranking.

Source:https://www.khaleejtimes.com/business/economy/look-ahead-2018-bright-outlook-for-uae-economy

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LEBANON HIRES MCKINSEY TO HELP REVAMP THE ECONOMY

Lebanon is hiring management consulting firm McKinsey & Co. to help restructure an economy that’s overly reliant on remittances and banking, and grappling with high unemployment, Economy and Trade Minister Raed Khoury said.

The six-month agreement with McKinsey will be signed by the end of this week and the company will start work next week with various ministries and economic bodies to formulate a new economic vision for the Arab world’s most indebted nation, Khoury said in an interview at his office in Beirut on Monday.

“The government has been historically nearly absent in putting policies and procedures to do that,” said the former Barclays Wealth banker and founder of Cedrus Invest Bank. “The first thing we want to do is to identify our economic identity and then go to more specific things.”

With at least three times as many Lebanese living abroad than in Lebanon, the country has been sustained by remittances that have kept flowing in, especially from Lebanese workers in Gulf and African countries.

Banks use the money to buy government debt, which stands at 150 percent of economic output, according to Khoury. That is one of the world’s highest ratios, along with Japan and Greece.

Record Reserves
With foreign reserves at a record $43 billion, the Lebanese currency has been able to survive the political storms that have at various times left Lebanon without a president or prime minister, and the influx of 1.5 million Syrian refugees who have strained its resources.

But this model is “becoming very risky” and no longer sustainable, Khoury said, predicting that if nothing is done, the debt-to-GDP ratio will go as high as 170 percent in the next few years. He said Lebanon should aspire to emulate the economy of Singapore, another small country with many ethnic groups.

Lebanon’s governance has suffered from the legacy of the 1975-1990 civil war, and the country didn’t have a budget for 12 years until parliament passed one in 2017. Even now, with discussions under way over the new budget, not much thought is being given to the impact that decisions, such as imposing taxes, will have on various sectors, he said.

“We’re doing the budget for 2018, you think there is a mentality of a 3-year, 5-year, 10-year plan behind it? Zero,” he said. “It’s not chaos, it’s a culture.”

‘Tricky’
David Butter, associate fellow at Chatham House in London, said such strategic plans “might not do any harm, but in the case of Lebanon it’s a bit more tricky.” McKinsey will have to analyze and quantify various areas including services, financial flows and parallel economies such as the one controlled by the Iranian-backed Hezbollah group, which are hard to quantify, he said.

“You have a lot of gray areas which might be difficult to put into the context of some sort of a strategic plan,” Butter added.

The minister also said overall unemployment in 2014 stood at 24 percent, with rising youth unemployment exceeding 35 percent, the last year for which figures are available at the ministry. Lebanon’s trade deficit was $11.77 billion by September 2017, with exports at $2.12 billion and imports at $13.89 billion.

These figures show that Lebanon has no choice but to restructure its economy, said Khoury. “It’s not a luxury anymore,” he said.

Source:http://www.libc.net/2018/01/12/lebanon-hires-mckinsey-to-help-revamp-the-economy/

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DEKWANEH IS THE FIRST OF SEVEN INDUSTRIAL ZONES UNDER RENOVATION IN LEBANON

The Ministry of Industry (MoI) signed an agreement with the Municipality of Dekwaneh and the Lebanese Academy of Fine Arts (ALBA), part of Balamand University, to develop the industrial zone in Dekwaneh-Mar Roukoz.

Dany Gedeon, Director General at the Ministry, said: “This project is part of the Ministry’s plan to renovate and reduce pollution in seven industrial zones including Choueifet, Kfarshima, Mkalles, Taanayel, and others.” Dekwaneh municipality has taken the initiative to start the project. The ministry has started also working on the Choueifet industrial zone.

Gedeon said that $300 million will be required to renovate these zones. The ministry is negotiating with international donors like the World Bank, European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), and others to finance these projects.

In Dekwaneh, stakeholders will be working to carry out the master plan and surveys required to renovate the industrial zone, develop its infrastructure, reduce pollution, and enhance its services.

Companies in this zone will be subject to the rules and regulations by the MoI. It will also negotiate with donors to provide funds to develop and revamp the area. The Municipality of Dekwaneh will fund the master plan for the project and provide the field surveys needed to start the project.

ALBA will prepare the initial studies and determine what infrastructure is required, as well as estimating the cost of the project and the time needed for completion.

Source:http://www.libc.net/2018/03/02/dekwaneh-is-the-first-of-seven-industrial-zones-under-renovation-in-lebanon/

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$1.6 BILLION IN UPCOMING PRIVATE INVESTMENTS IN RENEWABLE ENERGY

scion

The Ministry of Energy and Water (MoEW) launched an Expression of Interest (EoI) for three solar farms that will generate 70 to 100 megawatts (MW) each.

Each solar farm should have battery storage capacity of 70 Megawatt Hour (MWh). It is the first time such a requirement has been made.

The locations of the farms will be determined by the private sector contractors. Electricité du Liban (EDL) will buy the output according to a Power Purchase Agreement (PPA). The PPA that will be signed by the private solar power contractors will be based on the one signed by the three companies that were awarded contracts to build wind turbines in Akkar. The price of electricity generated by the solar farms and sold to the EDL will be negotiated at a later stage.

Yesterday the MoEW also launched another project to build 24 solar farms (without storage). Each farm should generate between ten and 15 MW, equally divided between regions. This project will be similar to one launched in 2016 when more than 170 companies expressed their interest, and 42 Requests for Proposals (RFPs) were put forth.

The Ministry also launched an EoI for hydropower stations that would generate four megawatts each, across all regions. The proposed hydropower stations should have a total combined generation of 300 MW.

The Ministry had already identified 32 potential sites for the generation of hydropower based on a master plan put together by international firms Sogreah and Artelia. The locations of the hydropower stations would also be determined by the private sector.

A deadline was also set for the EoI for 200-400 MW wind turbines. Companies have until April to present proposals. The wind project is similar to the one licensed last July by the Cabinet, when three companies were permitted to operate 200 MW wind turbines in Akkar.

The total size of investments in the new solar and hydropower projects is estimated at between $1.1 billion and $1.6 billion, according to the MoEW.

Source:http://www.libc.net/2018/03/15/1-6-billion-in-upcoming-private-investments-in-renewable-energy/

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LOCATION-BASED SERVICES – THE NEXT TECHNOLOGY EVOLUTION FOR LEBANON’S RETAIL INDUSTRY

Mobile devices have changed how we work and navigate daily life, which means there’s a tremendous opportunity to capitalize on the growing use of mobile apps. Location-based services mean that retailers can leverage mobile devices and Bluetooth technology to provide offers to customers and prospects, help customers and employees navigate within locations, and locate friends, assets and services.

Deploying location services, however, can present some challenges. IT may have to learn new technologies and processes, as most retailers have little to no experience implementing these types of solutions. And some solutions may require IT to purchase and manage dedicated infrastructure. The good news is that in many cases, organizations already possess the technology needed to deploy location services. Bluetooth Low Energy (BLE) is prevalent on popular iOS and Android devices, and meets the required accuracy and latency demands for multiple use cases. In addition, Wi-Fi is now pervasive in all malls and retail outlets.

Lebanon’s retail industry is a fast adopter of technology. While they have adapted to e-commerce, they’ve equally improved their brick-and-mortar experiences. But until recently, technology hasn’t kept pace with these crucial arms of the retail business. That’s changing with advances in location-based services. Regional retailers are beginning to implement location-based solutions, but need to keep in mind the following key features that address customer experience and operational needs:

Cutting-Edge Analytics

The adoption of smartphones gives retailers an opportunity to leverage their existing Wi-Fi network to extract actionable location data. In-store experiences are dramatically improved through the adoption of the most advanced location-based solutions that allow for an array of analytics. This results in better customer experiences as well as operational effectiveness.

For example, a customer would be frustrated when after joining a loyalty program, he/ she discovers a favorite product is always missing from the aisle. With analytics from your loyalty app, you can focus attention on items your best customers purchase to keep them stocked.

By providing visualizations, dwell times and other metrics, analytics can tell you whether temporary displays are attracting purchases, or are an annoying traffic impediment, so you can take appropriate action. Clearly, the faster an underperforming display gets remediated, the faster sales get made. Longer term, visualizing what works best, in which locations and at what time of year, can help you replicate successes to maximize daily and seasonal sales.

Beyond the personalization and relevance benefits, here’s yet another reason to deploy BLE-enabled location-ready infrastructure: You can rapidly take advantage of new experience innovations already in the pipeline to keep you ahead of your competition.

Personalized Navigation

Map-enabled, indoor, turn-by-turn navigation via a customer’s mobile app is swiftly becoming a competitive differentiator as customers can get easily frustrated when looking for particular retail outlet in a massive mall for example. A frustrating experience could be the ultimate deal-breaker.

Associate Location/ Find-a-Friend

More sophisticated location solutions go further by offering assistance empowerment, also known as location sharing. With this capability, customers can consult your shopping app to visually find nearby associates if they want help. Clicking an associate’s icon enables sending that individual a pre-defined text. If the associate is occupied, they can respond with an availability estimate while also suggesting the consumer continue shopping because the associate can find them.

With location-based services, all employees – including minimally-trained seasonal workers – can quickly assist customers or restock goods, minimizing two perennial productivity drains. When an associate needs help, find-a-friend works the same way for them. Reducing these types of frictions can also significantly lower employee frustration, leading to less turnover and improved brand affinity. Moving forward, location awareness will be key to other innovations, such as deploying bots for shelf scanning.

Asset Tracking

The latest location-based solutions offer specialized sensors for tracking high-value items and inventory, ranging from carts and ladders to POS devices and pallets of goods. Easy-to-use mobile apps ensure that staff can quickly configure asset tags and then locate the physical assets within an indoor location.

Here is an example of how asset tracking is helpful. When customers encounter an empty merchandise slot, they frequently consult an associate and learn the item just arrived. Then, your associate walks the length of the store, where they’re confronted with several possible pallets. Equipping pallets with an asset tracking sensor enables associates to pull up a goods list for each pallet and retrieve the wanted item, rather than returning to the customer a dozen minutes later empty handed.

This is just one way asset tags can assist with personalized and relevant customer service. Others include quickly locating a ladder to get items off of a shelf or finding a cart capable of handling bulky merchandise.

Beyond these applications, location-based services can offer many more benefits. In addition to staying competitive today, deploying such infrastructure will reap rewards as innovations evolve for years to come.

Source:http://www.libc.net/2018/03/15/location-based-services-the-next-technology-evolution-for-lebanons-retail-industry/

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LEBANON ANTICIPATES ECONOMIC REVIVAL

Lebanon’s economy is expected to improve even before offshore gas and oil exploration at the beginning of 2019, Energy and Water Minister Cesar Abi Khalil said Wednesday. A consortium of France’s Total, Italy’s Eni and Russia’s Novatek has signed agreements for offshore oil and gas exploration and production in block 4 and the much-disputed block 9 near the maritime border with Israel.

“At this time, those companies are spending a lot of money on exploration and preparatory work,” Abi Khalil told reporters on the sidelines of the Oil & Gas in EastMed Forum in Beirut.

“All of that money is being pumped into the Lebanese economy and this has direct and indirect benefits on the economy,” he said.

Abi Khalil also added that for each job being created in the oil sector, 11 more will be created in supporting sectors.
Lebanon expects the consortium to use this time ahead of the exploratory drilling for “preparatory work,” according to Abi Khalil., “whether it’s technical studies or mobilization works to prepare for exploration in 2019.”Of the sovereign wealth fund that is expected to utilize future oil revenues to invest in development projects, the minister said: “It is true that the offshore petroleum resources law states that all the proceeds from this sector should be injected into the sovereign wealth fund.The minister also gave updates on the planned Floating Storage Regasification Unit project, which will reportedly be at three locations along the Lebanese coastline, by saying that they are in the pre-qualification process at the moment and that companies have submitted their expressions of interest and their prequalification files.

“We have received offers from the biggest companies in the world,” Abi Khalil said.

“I reckon we will have a sufficient number of offers hence, we will be issuing the request for proposals shortly and we expect the companies to reply positively to our request for proposal and hopefully in the coming few months we can have a winning bidder and we will give them the notice to proceed and to start building the FSRUs in order for us to be able to import LNG.”

The minister added that as a result, he expects the electricity production cost to fall by around 40 percent.

On the onshore exploration front, the minister said that the onshore law is being debated at the Parliament and that a subcommittee from the energy committee is studying the onshore law and hopes it will be finalized quickly to be passed to the general assembly for voting.

Source:http://www.libc.net/2018/03/29/lebanon-anticipates-economic-revival/

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EXO Mining sees $1bn investment in Block 10 Yanqul mineral project

Oman looks to build mining sector to kick-start economy

Investments in harnessing the mineral potential of a tiny segment of copper-gold-rich Block 10 in Yanqul in the western part of the Sultanate could swell to as much as $1 billion, according to a key executive representing the majority investor in the project. Kari J R Haataja , CEO and Managing Partner of EXO Mining, which is a 51 per cent shareholder in the Yanqul Copper-Gold Project, said a copper smelter could also be part of the ambitious development should future excavations unearth further large-scale commercial finds.

“The copper-gold, and other minerals and metals that are potentially there in Block 10 already represent a huge opportunity for us,” said Haataja. “What we will look to do in the near future is to also to bring other partners, investors and strategic partners for other metals where we don’t necessary need to be a majority shareholder, but we will promote the opportunities in Oman to other investors as well.”

Last Wednesday, EXO-Mining signed an agreement with state-owned Oman Mining Company (OMCO), the licensee of Block 10, as well as the Minerals Development Oman (MDO), the government’s new mining investment and development flagship, for a majority 51 per cent stake in the Yanqul Project Company, a special purpose vehicle that will invest in unlocking the potential of just 10 per cent of the 370 sq km Block 10. OMCO retains a 29 per cent stake in the project, with MDO owning the remaining 20 per cent. The partners are committed to investing around $100 million in the first three years of the project.

According to Haataja, however, the estimated investment in harnessing the full mineral potential of the roughly 40 sq km area falling within the remit of the new project company could balloon to around $1 billion going forward.

“As the known (copper-gold) deposits only cover 10 per cent of the total Block 10 area, we believe by starting further exploration of the larger area, we may find additional deposits of copper which then would give reason to invest in a large processing plant or potentially, together with other operators, in a smelter. This is a longer term view,” Haataja said.
“But right now, for the known deposits, we have estimated that the total investment is approximately one billion dollars, including the exploration, including the mining, including the concentrate plant, pre-production cost, everything!”

EXO Mining — part of EXO Group, an internationally active equity investor through direct investments and joint ventures with established industry players — is set to play a major role in the Yanqul Copper-Gold Project. “We will focus, in the first year, on proper exploration while bringing in the resource base to proven reserves. In the meantime, we will also be doing the mining design, mine plan, process flows, engineering, and so on, which will then define the final investment in the first phase.”

As for whether EXO Mining will be the operator of the Yanqul project, Haataja replied: “That will be decided together with OMCO and MDO. But typically, we either build our own team — and obviously this will also mean tapping into the expertise and experience of OMCO, and their knowledge of past mining activities. We will also consider bringing in a strategic partner as an operator and management for the mining activities and the concentrate.”

EXO Group has invested close to $2 billion across the globe as an equity investor, notably in the Nordic countries and southern Europe. In the Sultanate, EXO Mining has a considerable portfolio of investments through affiliations with EXO Oman LLC and Al Tamman Trading Establishment LLC. EXO Mining has interests in marble and limestone quarries located in Sur, Bahla and Al Khabourah, with an agreement for a fourth quarry in Suhar due to be signed shortly. The company also operates a major state-of-the-art stone processing plant in Suhar Industrial Estate.

Importantly, Oman is set to be an important focus of EXO Mining’s investments and activities going forward.

“We believe that Oman represents a fantastic opportunity in the mining sector, and we want to partner with other players in other metals as well,” the CEO added.

Source;https://businessgateways.com/news/2018/01/28/Exo-Mining-sees-investment-in-block-10

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Iran mineral output tops 250 million tonne

Financial Tribune reported that Major Iranian mining companies produced 258.13 million tonnes of mineral products in the first nine months of the current fiscal year, registering a 15.3% growth compared with last year’s corresponding period, the Iranian Mines and Mining Industries Development and Renovation Organization’s latest report announced.

Production in the ninth Iranian month indicates a 17.93% rise to 29.95 million tonnes year-on-year.

Iran is home to 68 types of minerals with over 37 billion tonne of proven and 57 billion tonne of potential reserves, including large deposits of coal, iron ore, copper, lead, zinc, chromium, uranium and gold.

Iron ore concentrate had the biggest share in Iran’s mineral production during the period under review with 27.9 million tonne, registering a 17% growth YOY. Gologhar Mining and Industrial Complex accounted for 10.31 million tonne of the total output, followed by Chadormalu Mining and Industrial Complex with 6.32 million tonne, Iran Central Iron Ore Company with 3.7 tonne, Goharzamin Iron Ore Company with 3.03 million tonne, Middle East Mines and Mining Industries Development Holding Company with 2.89 million tonne and Opal Parsian Sangan with 1.64 million tonne.

Production of granulated iron stood at 4.61 million tonne, up 2% YOY.

Pellet had the second largest share with a total output of 23.62 million tonne, up 26% YOY. Golgohar was the largest producer with 8.18 million tonne, followed by Mobarakeh Steel Company with 5.68 million tonne, Khouzestan Steel Company with 4.83 million tonne, Chadormalu with 2.57 million tonne and MIDHCO with 2.35 million tonne.

Direct-reduced iron came next with the production of 14.32 million tonne, up 15% YOY. Mobarakeh had the lion’s share with 5.56 million tonne, followed by KSC with 3.09 million tonne, Hormozgan Steel Company with 1.15 million tonne, South Kaveh Steel Company with 1.13 million tonne, Saba Steel Complex with 824,318 tonne, Khorasan Steel Company with 891,855 tonne, Ghadir Iron and Steel Company with 630,369 tonne, MIDHCO with 618,621 tonne, Sefid Dasht Steel Complex with 295,950 tonne and Esfahan Steel Company with 105,106 tonne.

https://steelguru.com/mining/iran-mineral-output-tops-250-million-tonne/499932