Surefire Resources NL (ASX: SRN) announces a second MOU with RASI Investment Company from Saudi Arabia for the development of the Victory Bore Vanadium Project. RASI, investing in projects aligned with Saudi Arabia's Vision 2030, seeks high-revenue ventures, establishing a fund for overseas investments. This agreement furthers Surefire's plan to engage Saudi partners following a previous MOU with Ajlan & Bros. Mining and Metals. RASI's expertise in mining and investment adds value to negotiations, covering investment, co-participation, and product offtake agreements.
Surefire's Victory Bore Project, one of Western Australia's largest vanadium projects, plans ore beneficiation and processing in Saudi Arabia, capitalizing on lower costs. The project's pre-feasibility study demonstrates robust economics with a 42.22% pre-tax internal rate of return. This partnership aligns with Saudi Vision 2030, aiming to localize mining services and transform the kingdom into a major mining hub
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