Oman's Mawarid Mining secures $166M Islamic loan

What's the deal? Mawarid MiningDealroom has a profile for this one. Try Dealroom →, an Omani mining company, has secured a $166M Islamic financing facility. The Sharia-compliant loan will support the company's operations and growth plans in the sultanate's mining sector.

Why now? Oman has been actively diversifying its economy away from oil and gas dependence, with mining playing a growing role in that strategy. Islamic finance continues to expand as a funding mechanism across the Gulf region, giving resource companies an alternative to conventional debt.

The signal: Mawarid Mining, classified as a breakout-stage company by Dealroom with a portfolio spanning copper and gold, is tapping Sharia-compliant capital at a time when global demand for copper — driven by electrification and energy transition — continues to tighten supply expectations. The $166 million facility positions the company to scale extraction capacity just as Gulf states race to build non-hydrocarbon revenue streams, making Oman's mining sector one to watch for further large-scale financing activity.

Read more: zawya.com