Oman Minerals Trading Company launches first integrated chromium shipment

The Oman Minerals Trading Company (OMTC) has announced a significant milestone with the launch of its first integrated shipment of Omani chromium ore, totaling over 50,000 tons, from Sohar Port. This event marks a new era in the marketing and export of the nation's chromium resources.

Simultaneously, the company reported strong performance in its gypsum exports, marketing and shipping more than 1.8 million tons to 11 countries via 32 ships from the Port of Salalah. This occurred alongside an 8% increase in the average selling price of gypsum exports compared to the same period last year.

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The launch of the integrated shipment of chromium ore represents a significant step in developing Omani mineral markets.

The integrated chromium shipment included various types of Omani ore in a single consignment, enabling OMTC to cater to a broader range of buyers and factories. This strategic move is designed to expand the customer base and establish new marketing channels for Omani chromium ore in global markets, with marketing efforts targeting Asian and European markets. The company is also engaging directly with factories that are using Omani chromium ore for the first time, fostering market diversification and direct access to end consumers to build long-term business relationships.

Gypsum export destinations included several Gulf markets, such as Kuwait, alongside expansion into new African markets and the revitalization of exports to South Korea. These efforts underscore the company's commitment to diversifying export destinations and reducing reliance on a limited number of markets.

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Market diversification and direct access to consumers are key pillars of the marketing strategy.

Hussain bin Ali Al Lawati, Chairman of the Board of Directors of OMTC, described the integrated chromium shipment as a significant step in developing Omani mineral markets. He highlighted market diversification and direct consumer access as key pillars of the marketing strategy. Al Lawati also noted that the success in gypsum exports, including price increases and market expansion, reflects the effectiveness of integrated marketing and export operations. The company prioritizes achieving the best commercial value for Omani raw materials while ensuring supply for the local market.

OMTC, a subsidiary of Oman Minerals Development Company, is responsible for marketing and exporting gypsum and chromium ores. It centrally manages export operations and negotiates with international buyers. The company is also working to support the growth of mineral-related downstream industries within Oman by balancing exports with domestic supply, thereby increasing the added value of mineral resources and encouraging related investments.

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The results achieved in gypsum exports, including the increase in the average selling price and the expansion of the market base, reflect the importance of managing marketing and export operations in a more integrated manner.