Leading companies in Oman, Abu Dhabi and Saudi Arabia are planning to launch metal trading companies, as the region taps into growing demand for metals while it looks to diversify beyond oil and gas.
Abu Dhabi-based International Resources Holding, a mining company that is part of a conglomerate chaired by powerful Emirati royal Sheikh Tahnoon bin Zayed al-Nahyan, has already built out a 60-person trading unit to handle energy and metals.
Minerals Development Oman, the state-owned mining company, is also in the process of hiring a top executive to lead a 25-person trading team, according to MDO’s chief executive, Mattar Al Badi.
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