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Alara signs A$100M development deal for copper-gold exploration in Oman

Alara Resources Ltd. said Jan. 29 that it signed a framework deal with Oman Mining Co., Minerals Development Oman and investment firm EXO to invest A$100 million in exploring and developing copper and gold reserves in Oman Mining's Block 10 deposit.

The company said Oman stands to benefit from the deal, as it will establish the mining sector as a pillar of the country's economy through exploring historical copper mines within its four joint venture exploration licenses.