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25/04/2024
Mining News

Power Metal Resources expands global ventures with Power Arabia, enters MoU with Saudi Arabian Ministry of Investment

Power Metal Resources is making strides in broadening its international project portfolio, particularly in the Arabian Gulf region, through its subsidiary Power Arabia. A recent milestone includes the signing of a Memorandum of Understanding (MoU) with the Ministry of Investment of the Kingdom of Saudi Arabia at the Future Minerals Forum.

The collaboration aims to jointly identify and capitalize on high-value investment opportunities within Saudi Arabia’s rich natural resources. Power Arabia is currently in the midst of a pre-IPO financing round to support regional endeavors and a potential listing on the London Stock Exchange. Ongoing discussions with investors from both the Gulf region and the international market are in progress.

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The partnership involves joint ventures with regional entities, with negotiations for binding MoUs on existing exploration licenses nearing finalization. Power Metal Resources intends to maintain a substantial shareholding in Power Arabia, ensuring significant upside potential for its shareholders.

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