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The Largest Oil Inventory Increase In History

The Largest Oil Inventory Increase In History

Oil inventories generally increase in…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

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Is This The Next Top Venue For Copper And Gold?

Licensing is a major part of the global chess game that is minerals exploration. With shifting rules around picking up and working ground being one of the biggest factors in opening up potential for billion-dollar discoveries.

And this week it looks like things are getting favorable in one off-the-path locale. Which has the right rocks to yield some important finds in both copper and gold.

The Middle Eastern nation of Oman.

Local press in that country reported Sunday that significant progress is being made on a modern licensing regime for exploration. With key advisors to the government taking some important steps to support activity over the coming years.

That’s happening because Oman is currently in the process of overhauling its minerals sector. In a bid to diversify the economy and capitalize on the country’s known prospectivity.

And high-level officials in the local mining sector — who are advising on the changing exploration rules — made some critical recommendations this week. Urging the government to implement speedy processing of mineral applications under the new regime.

These advisors correctly noted that a clear and simple path to license approval is needed to make projects in Oman attractive. With these professionals cautioning the government that processing should take no more than three to six months.

If such suggestions do get taken up by the government, it would bring Oman’s exploration industry into the modern age. And represent a very interesting opportunity for global project developers — given the country’s prime positioning in regard to other known minerals destinations. Related: India Plans Merger Of 13 State-Run Firms Into Oil Giant

As the map below shows, Oman lies alongside the world-class copper and gold fields of southeastern Iran. The country is also along strike from numerous prospective deposits in Yemen.

(Click to enlarge)

Given the low level of historic work here, there’s a lot of room to run. Watch for more announcements on the new licensing regime leading up to a planned minerals conference in Oman during January 2017.

Here’s to speedy service.

By Dave Forest

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