SRN s big day , back trading today after halt Australian players...

SRN s big day , back trading today after halt

Australian players make a moveSurefire Resources
(ASX: SRN) recently revealed it was set to undertake fresh discussions with interested Saudi companies after receiving robust results from a now completed pre-feasibility study (PFS) for the company’s Victory Bore magnesium project in Western Australia.

The company has already signed a non-binding memorandum of understanding (MoU) with the Ministry of Investment Saudi Arabia (MISA) for vanadium and critical mineral processing in the Kingdom of Saudi Arabia and is arranging new meetings at a forum being held in January 2024 in Saudi Arabia’s capital, Riyadh.

The partnership with the Kingdom of Saudi Arabia (KSA) will provide the advantage of processing its material in a low power and fuel cost jurisdiction, with the significant advantages of reduced operating costs, and producing final products for nearby markets.

Australia’s European Lithium (ASX: EUR) has been an early mover on the lithium processing opportunity, signing a non-binding MoU with Obeikan Investment Group to build and operate a hydroxide plant in Saudi Arabia to refine material from the Wolfsberg lithium project in Austria.

Under the MoU, European Lithium and Obeikan will work together to negotiate suitable commercial terms for the construction and operation of a hydroxide plant in Saudi Arabia.