Cassius Mining (ASX: CMD) has entered into an MoU with the highly respected Saudi Arabian company Segia Gulf Group to participate in the country’s “Vision 2030” of unlocking the Kingdom’s vast mineral resources by fast-tracking exploration activity in critical minerals.
Cassius CEO, James Arkoudis, said key objectives for the exploration and mining industry in the “Saudi Vision 2030”include exploring for and developing valuable minerals known to be present in the Kingdom, streamlining the mineral licensing process for exploration and mining and attracting the participation of exploration companies via substantial financial incentives.
Cassius has recently registered in the Kingdom under the Foreign Entity Branch and now holds a Mining Investment License, which allows the company to participate in current and future tender rounds for selected priority exploration licenses classed as of high importance to the Kingdom’s future economy by MIMR.
Both Segia and Cassius plan to prioritise exploration licenses in gold and copper, without excluding other critical minerals of potential interest. Significantly, the release of every exploration license by MIMR in each tender round benefits from a data room with all historical data efficiently consolidated by the Saudi Geological Survey (National Geological Database), to assist fast-tracking exploration with a higher level of initial confidence.