Alara forms JV to bid for Saudi zinc-copper exploration licence
ASX-listed metals explorer and developer Alara Resources is hopeful that it will return to Saudi Arabia, announcing on Monday that it had formed a joint venture (JV) to bid for the award of a 353 km2 exploration licence that includes the company’s former Khnaiguiyah zinc/copper project.
Alara holds a 51% interest in the JV, while construction business Al Tasnim holds the balance.
Alara subsidiary Alara Saudi Ventures qualified in March along with seven other bidders, out of 24 total applicants, to participate in the final round of an auction process for the licence award carried out by Saudi Arabia‘s Ministry of Industry and Mineral Resources (MIMR).
“The mining industry in Saudi Arabia is now receiving unprecedented support from the government through the MIMR. Transparent regulations and guidelines implemented by the Ministry are expected to receive favourable attention from various local and international investors to partner with the government’s Saudi 2030 Vision. Alara is set for a return to Saudi Arabia,” Alara Saudi Arabia country manager Fadi Zenaty said.
Based on Alara’s previous knowledge and experience of the area, the JV is preparing a competitive bid with a team of experienced mining and exploration professionals. The bid involves submitting a programme for development of mining and processing infrastructure at the previously explored Khnaiguiyah zinc/copper deposit, and a proposal for the efficient exploration and development of the remainder of the licence area.
“Alara is . . . well on its way to implementing its transition from minerals explorer to a mining producer in the region,” Alara chairperson Stephen Gethin said.
The award of the licence is expected to be announced in mid-August.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation