Denarius Metals Forms Two New Companies Under Saudi Strategic Partnership with ProGrowth

Denarius Metals Establishes New Companies in Saudi Arabia

Denarius Metals Corp. has made significant strides in its strategic collaboration with ProGrowth Ltd., a Saudi-based diversified group. This development follows the recent approval of two new companies, Al Sahra Minerals and Najd Minerals, both aimed at advancing the mining industry in Saudi Arabia.

On May 7, 2026, Denarius Metals announced the establishment of this partnership which seeks to exploit the vast opportunities within the Kingdom of Saudi Arabia’s mining sector. Denarius Metals holds a 75% equity stake in both newly formed companies. This partnership aims to establish a comprehensive value chain focused on mineral trading, processing, and the development of industrial capacities for gold production. The alliance promises to leverage Denarius's portfolio of mining projects and ProGrowth's extensive regional expertise.

The joint venture is strategically aligned with Saudi Arabia's Vision 2030, which aims to diversify the economy and reduce dependence on oil. Through a series of initiatives, including mineral processing and refining, the partnership plans to elevate Saudi Arabia’s mining sector.

Matar Al Harthi, Executive Vice President of National Industrial Development, alongside other dignitaries from the Ministry of Industry and Mineral Resources, attended the official signing ceremony that solidified this partnership. Such collaboration not only facilitates mining concessions but also paves the way for the Kingdom to integrate downstream industrial development, promoting local production of minerals and reducing the country's reliance on imports.

Serafino Iacono, Executive Chairman of Denarius Metals, expressed excitement regarding this partnership. He highlighted the strategic advantages both companies could harness to transform raw minerals into finished products ready for market entry, thereby reinforcing the regional economy.

Al Sahra Minerals will focus on delivering advanced metallurgical solutions and developing infrastructures such as roaster facilities and gold refineries. This investment promises to elevate KSA's mining industry by ensuring that mineral resources are not only extracted but also refined locally. Conversely, Najd Minerals aims to acquire mining concessions and engage in extraction activities targeting valuable minerals like gold and nickel within Saudi Arabia and the broader Gulf Cooperation Council (GCC).

Moreover, Denarius Metals will benefit from ProGrowth’s intention to take a 10% equity stake in the company, signifying a strong commitment to a long-term partnership. This funding is anticipated to bolster Denarius's operational and developmental goals while enhancing its competitive stance in the market.

As Denarius continues its journey, it also has robust operations in Colombia and Spain. In Colombia, the company is making strides with its Zancudo Project, already producing gold and silver and improving its processing capacity. In Spain, Denarius’s interests extend to critical mineral projects, indicating a dedicated approach to maintaining a diverse and dynamic mining portfolio.

With the successful establishment of these entities, Denarius Metals is poised to not only contribute to Saudi Arabia's mining sector but also expand its global footprint in the mining and metals industry. The future promises substantial growth potential as the partnership works towards creating a sustainable and profitable mining environment.

For more information on Denarius Metals and its latest developments, you can visit their official website or check their profile on SEDAR+ for detailed reports and updates.