Denarius Metals Partners with ProGrowth to Expand Mining Ventures in Saudi Arabia

Denarius Metals Corp. has officially entered into a strategic partnership with Saudi Arabia's ProGrowth Ltd. This collaboration marks a significant step for the Canadian mining company as it aims to explore and commercialize metal and mineral opportunities within the Kingdom of Saudi Arabia (KSA).

The Collaboration Details

This venture outlines a shared mandate focusing on processing, smelting, and the commercialization of materials sourced from Denarius Metals’ promising projects notably, the Lomero and Toral Projects located in Spain. Furthermore, both companies will work towards acquiring, developing, and operating gold and nickel mining concessions across Saudi Arabia. This collaboration represents not just a business venture but also aligns with Saudi Arabia's ambitious Vision 2030, aiming to diversify its economy away from oil dependency.

Serafino Iacono, the Executive Chairman of Denarius Metals, emphasized the potential of this partnership, highlighting ProGrowth’s established position in the Saudi market, particularly in sectors including construction, oil and gas, petrochemicals, and now mining. By collaborating with ProGrowth, Denarius aims to leverage established expertise to navigate and thrive in the competitive KSA mining environment, possibly leading to strategic equity investments in Denarius.

About ProGrowth Ltd.

ProGrowth Ltd. is a diversified group with extensive experience in vital industries across Saudi Arabia. The company operates through various specialized business units that support comprehensive project lifecycles, which include engineering, execution, and commercialization services. Notably, ProGrowth's engineering consultancy offers critical design and technical studies, bolstering its capabilities in project delivery and enhancing its role in the energy and industrial sectors.

Additionally, ProGrowth maintains a robust trading arm through ChemiLink, supplying chemicals and materials crucial for industrial, oil, gas, and mining applications. The synergy between its engineering prowess and trading capabilities positions ProGrowth as a formidable player within the KSA’s mining and industrial sectors, continually adapting to align with Saudi Arabia's strategic developmental goals.

Denarius Metals: A Commitment to High-Grade Mining

Operating under the ticker symbols DMET on Cboe Canada and DNRSF on the OTCQX market, Denarius Metals is committed to the exploration and development of precious metals and polymetallic mining projects primarily located in high-grade regions of Colombia and Spain. The company recently showcased its potential by initiating operations at the Zancudo Project in Colombia, where it aims to produce gold and silver alongside developing additional processing capabilities.

In Spain, Denarius Metals holds interests in high-potential critical mineral projects that contribute to the growing demand in global markets. Specifically, its Aguablanca Project focuses on mining nickel and copper, and has been recognized as a strategically significant initiative by the European Union.

With the combined strengths of Denarius Metals and ProGrowth, the partnership is poised to unlock significant mining opportunities in Saudi Arabia, aligning both companies with the nation's economic diversification efforts. Moving forward, this collaboration promises to make impactful contributions to the KSA mining industry while further establishing Denarius Metals as a key player in the global mining sector.

Looking Ahead

The future appears bright for Denarius Metals as they embark on this strategic alliance with ProGrowth. By uniting resources and expertise, both companies aim to facilitate sustainable development within the mining sector and contribute to the Kingdom of Saudi Arabia's ambitious goals for economic diversification and growth.