• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login

    Investing News NetworkYour trusted source for investing success

    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Base Metals Market
    Base Metals News
    Base Metals Stocks
    • Base Metals Market
    • Base Metals News
    • Base Metals Stocks
    copper investing

    Savannah Set for Oman Copper Mining Licenses

    Olivia Da Silva
    Aug. 08, 2019 02:55PM PST
    Base Metals Investing
    LSE:SAV

    Savannah Resources is en route to receive mining licenses for two high-grade copper deposits from Oman’s Public Authority for Mining.

    Savannah Resources (LSE:SAV) is en route to receiving mining licenses for two high-grade copper deposits from Oman’s Public Authority for Mining (PAM).

    This week, Savannah announced that PAM has informed the company of its intent to grant mining licenses for the Mahab 4 and Maqail South deposits. Located near the Port of Sohar, the deposits are part of the company’s 65 percent owned Block 5 copper project.

    The only speed bump the company still needs to cross is paying the licensing fees. As Oman implemented new mining laws in mid-March, new licensing fees have yet to be set.

    Once the financials are sorted out, Al Fairuz Mining, a Savannah subsidiary and the holder of Block 5’s exploration license, will get the green light.

    “Mahab 4 and Maqail South are examples of the type of high-grade copper deposits that are characteristic of the Oman Ophiolite Belt and will be in the vanguard of new copper mine developments in Oman,” Savannah CEO David Archer said in a statement.

    “Block 5 remains highly prospective for the discovery of further high-grade deposits that could further augment the planned hub-and-spoke mine development based around Mahab and Maqail South. We look forward to announcing the final award of the mining licences in due course.”

    Savannah’s Block 5 project hosts an indicated and inferred mineral resource, delineated at Mahab 4 and Maqail South, of 1.7 million tonnes (Mt) at 2.2 percent copper. Additionally, Mahab 4 contains a high-grade zone of 0.5 Mt at 4.5 percent copper.

    The company maintains that there is “significant potential” to increase Block 5’s resource, as the deposits are open along strike.

    Alongside Block 5 is Block 4, also located in Oman, which Savannah currently holds a 51 percent interest in. The two blocks collectively cover over 1,000 square kilometers in the Semail Ophiolite Belt; the company has the right to also earn up to a 65 percent stake in Block 4.

    While Block 4 does not have a defined resource at this time, several prospective development targets have been identified. Four of the targets host old copper mines that produced over 190,000 tonnes while in operation and come with existing mine infrastructure.

    Based on historical data and work conducted by Savannah, the company has projected additional resource targets amongst its high-priority areas in Block 4 and 5. This has led to a potential additional resource of between 10.7 Mt and 29.25 Mt, grading between 1.4 and 2.4 percent per tonne of copper.

    As of Wednesday (August 7), copper was trading at US$5,673 per tonne on the London Metal Exchange.

    In London, Savannah’s share price was down 1.3 percent by Thursday’s (August 8) close, ending the day of trading at GBX 3.80.

    Don’t forget to follow us @INN_Resource for real-time news updates!

    Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.

    lse:savsavannah resourcesblock 5al fairuz miningblock 4copper investingmahab 4
    The Conversation (0)
    Go Deeper
    AI Powered
    Copper pipes laid on top of each other in bundles.

    5 Best-performing Copper Stocks on the TSX in 2025

    A person's hand holds a piece of copper metal ore above a blurry copper-colored background.

    What's the Next US Copper Mine? 27 Copper Projects to Watch

    Latest News

    Metals & Mining Virtual Investor Conference: Presentations Now Available for Online Viewing

    Music Well Heritage Protection Agreement Signed

    Questcorp Mining Continues Exploration in Advance of Drilling at the La Union Gold & Silver Project in Mexico

    HyProMag USA Enters Into Agreement with Global Electronics Recycler, Intelligent Lifecycle Solutions, for Feedstock Supply and Pre-Processing Site Share in South Carolina and Nevada

    FPX Nickel Provides Update on Normal Course Issuer Bid

    More News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Base Metals Investing Stocks

    Blackstone Minerals

     
    BSX:AU

    Osisko Metals: Pure Potential

     
    OM:CA

    Los Andes Copper

     
    LA:CA

    Questcorp Mining

     
    QQQ:CC

    Cygnus Metals

     
    CYG:CC

    Redstone Resources

     
    RDS:AU
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    ×