Block 8

The Block 8 exploration license in northern Oman is held through a joint venture between Alara Resources and Awtad Copper LLC. AIM (Alternative Investment Market)- listed Power Metal Resources PLC has entered into a farm-in agreement, signed on 25 October 2024, allowing it to earn a 12.5% interest in the project. Exploration activities under this agreement, carried out by Power Metal’s technical team, Power Arabia, commenced in October 2024. The Ministry of Energy and Minerals has since approved the renewal of the exploration license, and planning for the next phase of exploration is now underway.

Project Details Information
Commenced
2011
JV Company
Awtad Copper LLC (ACL)
Alara’s Interest in JV
10%, with an option to increase to 57.5%
Commodities
Copper, Gold
Exploration License
Valid; 497 km²
Project Stage
Early Exploration
Shareholders in ACL
Alara Resources (10%), Power Metal earning right of up to 12.5%, Local shareholders 90%
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