| Code: 105204 |

TIN news:   This week, Vale Oman successfully exported local minerals to the international market through the Sohar Dry Bulk Logistics Corridor, under a memorandum of understanding signed in March 2016 by Vale, Tanmia and Sohar Port and Freezone.
This agreement is aligned with the country’s plan to diversify its economy in a sustainable way and to explore opportunities to export from Sohar Port, a Vale statement said on Wednesday.
“Oman is a mineral-rich country and we are working to contribute our knowledge and industrial expertise so that the sultanate can take its industrial minerals to the global market at competitive prices,” said Vale Oman CEO Jamil Sebe. “Since our operations were inaugurated in 2011, we have been committed to the sustainable and economic development of the country, and this agreement is an example of the fruits of our labour to utilise our internal infrastructure and logistics capability in support of the diversification of Oman’s economy.”
Vale’s initial investment of more than US$2bn allows for locally mined materials to be stockpiled, processed and transported through its deep-water dry bulk terminal which is considered to be one of a few specialised bulk terminals in the region. It ranks in the world’s top ten on draft depths by allowing some of the largest ships in the world, very large ore carriers, with a capacity of up to 400,000 tonnes each, to be berthed in the sultanate.
Sohar Port and Freezone chief executive, Mark Geilenkirchen, said, “We are proud to have Vale Oman on board as our partner at the port. Their in-depth knowledge and know-how will contribute a great deal to making the dry bulk logistics corridor a success. We hope these initial shipments are the start of much more to come; Oman has a tremendous wealth of mineral resources and we are committed to help manage them to create the maximum value for the sultanate.”

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