South West Pinnacle JV Bags ₹30 Crore Exploration Deal in Oman for Copper, Gold & Chromite
By Shishta Dutta | Updated at: Jan 14, 2026 11:58 AM IST
Mumbai, 27 June 2025: South West Pinnacle Exploration Ltd (NSE: SOUTHWEST, BSE: 543986) has confirmed that its joint venture entity, Alara Resources LLC in Oman, has secured a significant mineral exploration and mining contract from Minerals Development Oman (MDO). The contract, worth approximately OMR 13,56,000 (equivalent to ₹30 crore), encompasses the exploration and mining of Copper, Gold, and Chromite across concession blocks 12B and 13.
Key Contract Details
| Particulars | Details |
|---|---|
| Awarding Entity | Minerals Development Oman |
| Contracting Entity | Alara Resources LLC (JV with South West Pinnacle) |
| Contract Value | OMR 13,56,000 (Approx. ₹30 Crore) |
| Project Scope | Exploration & Mining of Copper, Gold, and Chromite |
| Drilling Target | Up to 40,000 meters (diamond drilling) |
| Execution Timeline | ~2 Years |
| Nature of Transaction | International (Not a related party transaction) |
The scope of the agreement involves diamond core drilling totalling up to 40,000 metres, to be carried out in multiple phases over two years. This contract represents a major step in South West Pinnacle’s international expansion strategy, enhancing its operational footprint across high-potential mineral zones in the Middle East.
Not a Related Party Transaction
According to the company’s filing in compliance with SEBI Circular CIR/CFD/CMD/4/2015, the awarded contract does not involve any promoter or group company interests, and thus does not qualify as a related party transaction.
Strategic Insight from South West Pinnacle
In an official exchange communication, the company noted:
“This award marks a pivotal development in our global operations and highlights our technical strength in mineral exploration. Our collaboration with Minerals Development Oman will support our strategy to establish a firm presence in regions with strong resource potential.”
Company Background
South West Pinnacle Exploration Ltd, headquartered in Gurgaon, is a SEBI-listed and ISO 9001:2015 certified enterprise, engaged in drilling, geological surveys, and a wide range of geophysical and exploration services.
The company has continually expanded both its domestic and international footprint through strategic partnerships, competitive bidding, and a focus on project excellence. It trades actively on both the NSE and BSE under the symbol SOUTHWEST.
REF: https://nsearchives.nseindia.com/corporate/SOUTHWEST_27062025110717_ANNOUNCEMENT.pdf
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