Surefire Resources NL (ASX:SRN) MD Paul Burton tells Proactive the company has executed an MoU with the Ministry of Investment, Kingdom of Saudi Arabia, for mineral processing opportunities of high-grade ore from its Victory Bore Vanadium and High Purity Alumina Project in WA.
Burton says the deal provides a clear pathway for maximising value from Victory Bore following a development strategy for a mining and beneficiation operation at the mine location and then transport of high-grade concentrate to a jurisdiction where power costs are low, infrastructure for downstream processing is present and a large market exists for its products.
Burton said “This is a very significant milestone and achievement for the company and provides a clear development pathway for the Victory Bore Project as we progress the Pre-Feasibility Study.
“The KSA (Kingdom of Saudi Arabia) is a rapidly developing region with demand and incentives for critical mineral resources.
“We welcome the engagement with MISA and look forward to working closely with them to achieve our mutually beneficial development plans.”
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