Australia-based Alara Resources Limited, a minerals exploration and mining development company, has finalised terms to appoint a project management company to supervise and administer the development of the Al Hadeeth Copper-Gold Project in Oman, said a report.

The proposed agreement covers the entire project period through to commissioning, and contract execution is expected to occur this week, added the Oman Daily Observer report.

The company is also currently finalising terms for a 10-year offtake agreement, including pre-payments which may be drawn down during construction and commissioning, it said.

The issuing of the pending mining licence remains a significant milestone and catalyst for Alara.

Recently, Alara updated its total JORC resource by 14 per cent for the Washihi copper-gold deposit located within the 70 per cent owned Al Hadeeth Copper-Gold Project in Oman.

The Indicated Resource increased by 81 per cent to 12.39 million tonnes at 0.89 per cent copper and 0.22 g/t gold.

The Al Hadeeth Copper-Gold Project provides opportunities that could extend beyond the current project, including potential to serve as a processing hub for other deposits and support development of downstream operations, added the report.