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Mawarid Mining secures $50m loan
- Oman: Wednesday, December 12 - 2012 at 03:58
Mawarid Mining, a subsidiary of Oman-based MB Holding, has signed a $50m facility agreement with Bank Sohar, Oman Daily Observer has reported. The amount will cover financing of exploration, mine development and long term capital expenditure requirements of the company, the firm said. Mawarid is engaged in exploration, processing and production of copper in Oman, and has also commenced exploration activities in Kazakhstan and Tanzania and has made strategic mining investments in Saudi Arabia and Australia.
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