Homerun Resources Inc. a Canadian energy materials specialist, has signed a non-binding Memorandum of Understanding (MOU) with Minerals Development Oman (MDO), Oman’s leading mining investment entity. As per the agreement, the firm will jointly assess the feasibility of establishing a pioneering solar glass manufacturing project in Oman, to potentially support the nation’s transition towards clean energy.
As an initial step, the MOU outlines plans for collaborative efforts to evaluate opportunities to enhance the quality of quartzite deposits in MDO’s concessions within the Wilayat of Qurayat, Muscat Governorate. Quartzite silica sand, once refined into high-purity quartzite (HPQ) silica sand, holds promise as a crucial raw material for solar glass production—the primary component of silicon wafers utilized in solar cells.
The proposed solar glass manufacturing process involves purifying the silica sand, melting it at high temperatures to form ingots, and slicing these into thin wafers. These wafers are further processed and integrated into solar cells, eventually forming solar panels when combined with solar glass.
Additionally, the MOU outlines plans for a scoping study to evaluate the potential establishment of a solar glass manufacturing facility in Oman. This study will encompass market analysis, technical evaluations, and preliminary economic assessments, laying the groundwork for potential pre-feasibility and definitive feasibility studies.
Upon successfully completing these feasibility studies and internal approvals from both parties, establishing a special purpose vehicle (SPV) is envisioned. This SPV will oversee the development and operation of the proposed solar glass production facility in Oman, with relative shareholdings to be determined through further discussions.
Homerun Resources, a publicly traded entity listed on the Toronto Venture Exchange, specializes in critical and energy materials sectors. The company aims to procure high-purity quartzite silica sand through various means, including company-owned resources, joint ventures, and open market purchases.
MDO, a subsidiary of the Oman Investment Authority (OIA), is at the forefront of investing in and developing Oman’s mineral resources. With a mandate aligned with Oman Vision 2040, MDO seeks to unlock the nation’s natural wealth to foster economic diversification and job creation.
