The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
"Saudi Future Minerals Forum: Deals worth $7.2bln signed on day one"
Now that is some very very big deals signed, and as usual alwayshoping that a large proportion of that sum involves Zanaga. Remember, the team have been out there for over a fortnight now. Best case scenario for all of us now is a major announcement being made by the Saudis, timed to coincide with an RNS from Zioc advising an immediate suspension of shares being traded pending major corporate action and then everything revealed. Fingers xd. GLALH
With Bob Wilt CEO of Ma,aden has just ended.......no snippets of info to get us excited; not even a mention of green steel.
With Bob Wilt CEO of Ma,aden has just ended.......no snippets of info to get us excited; not even a mention of green steel.
Interesting comment this afternoon from Bob Witt, CEO of Manara Minerals/Saudi PIF, bearing in mind that Manara are one of the favourites on here to be involved in some way with Zanaga..."I would always prefer to have 50% of something, rather than 100% of nothing."
As usual ...alwayshoping.
Interesting comment this afternoon from Bob Witt, CEO of Manara Minerals/Saudi PIF, bearing in mind that Manara are one of the favourites on here to be involved in some way with Zanaga..."I would always prefer to have 50% of something, rather than 100% of nothing."
As usual ...alwayshoping.
Saudi Arabia proposes international consortiums to work in mining sector to benefit all
Saudi Minister of State for Foreign Affairs Adel Al-Jubeir speaks on the first day of FMF in Riyadh.
Updated 12 sec ago
MIGUEL HADCHITY
January 10, 2024
14:41
133
Follow
RIYADH: Saudi Arabia has proposed establishing international consortiums to work with countries with mineral resources to benefit all stakeholders.
Saudi Minister of State for Foreign Affairs Adel Al-Jubeir made this proposal on the first day of the Future Minerals Forum in Riyadh on Wednesday.
Stressing the need for a paradigm shift that promotes cooperation and collaboration in the mining sector, Al-Jubeir said: “If we can establish international consortiums where a number of companies from different countries come together to work with countries that have mines and work with countries that need minerals in a way that is beneficial for everybody. We will have a new paradigm that is no longer this perception of mining companies coming in exploiting resources.”
The minister also emphasized the importance of establishing fair mechanisms to integrate economies and promote responsible mineral extraction.
He stated: “I believe it is important that we have a mechanism that is fair (and) that allows us to integrate economies rather than exploit economies.”
Saudi Arabia proposes international consortiums to work in mining sector to benefit all
Saudi Minister of State for Foreign Affairs Adel Al-Jubeir speaks on the first day of FMF in Riyadh
Updated 12 sec ago
MIGUEL HADCHITY
January 10, 2024
14:41
133
Follow
RIYADH: Saudi Arabia has proposed establishing international consortiums to work with countries with mineral resources to benefit all stakeholders.
Saudi Minister of State for Foreign Affairs Adel Al-Jubeir made this proposal on the first day of the Future Minerals Forum in Riyadh on Wednesday.
Stressing the need for a paradigm shift that promotes cooperation and collaboration in the mining sector, Al-Jubeir said: “If we can establish international consortiums where a number of companies from different countries come together to work with countries that have mines and work with countries that need minerals in a way that is beneficial for everybody. We will have a new paradigm that is no longer this perception of mining companies coming in exploiting resources.”
The minister also emphasized the importance of establishing fair mechanisms to integrate economies and promote responsible mineral extraction.
He stated: “I believe it is important that we have a mechanism that is fair (and) that allows us to integrate economies rather than exploit economies.”
BUT...Lets not worry..it is an agreement/signing with Saudi PIF/Manara Minerals that we want/hope to see, not an MOU with their Ministry of Mines.
As usual...alwayshoping.
BUT...Lets not worry..it is an agreement/signing with Saudi PIF/Manara Minerals that we want/hope to see, not an MOU with their Ministry of Mines.
As uaual...alwayshoping.
Not the one we are hoping for. 2 MINS AGO.
RIYADH: The Saudi Ministry of Industry and Mineral Resources has formalized collaborations in the mining sector by signing memorandums of understanding with four countries during the third international ministerial roundtable.
The MoUs include agreements for cooperation in the field of mineral wealth with Egypt’s Ministry of Petroleum and Mineral Resources, Morocco’s Ministry of Energy Transition and Sustainable Development, and Congo’s Ministry of Mines of the Democratic Republic.
Additionally, a separate MoU for cooperation in the field of geology and mineral wealth was signed with Russia’s Ministry of Natural Resources and Environment.
2 MINUTES AGO.
RIYADH: The Saudi Ministry of Industry and Mineral Resources has formalized collaborations in the mining sector by signing memorandums of understanding with four countries during the third international ministerial roundtable.
The MoUs include agreements for cooperation in the field of mineral wealth with Egypt’s Ministry of Petroleum and Mineral Resources, Morocco’s Ministry of Energy Transition and Sustainable Development, and Congo’s Ministry of Mines of the Democratic Republic.
Additionally, a separate MoU for cooperation in the field of geology and mineral wealth was signed with Russia’s Ministry of Natural Resources and Environment.
99 "I doubt it - wouldn't that be insider dealing ?"
Most likely I suppose, being an AIM share, and in Africa, and a few "legal" brown envelopes etc that needed sorting. Hopefully by this time next week, who cares and we might all be really lucky bunnies. AIMHO though !!!
As usual...alwayshopingforthebestforusall.
Maybe Saudi PIF/Manara have decided now is the time and is part of the deal.???
Vet, that is the figure that I recall. Fortescu only offered 9 billion from memory and lost out.
Ex......a few snippets here which may help
https://www.riotinto.com/en/news/releases/2023/simandou-iron-ore-project-update#:~:text=Rio%20Tinto%20is%20also%20reporting,is%20approximately%20%246.2%20billion5.
and from here, how much they get back..."Project development requires initial funding of about $11.6 billion, Rio Tinto said in a statement.
Rio Tinto’s annual capital investment is expected to be around $10 billion from 2024 to 2026, with the majority on Simandou as spending winds down at the Oyu Tolgoi project in Mongolia beyond 2024.
First production from the two blocks co-owned by Rio Tinto is expected to ramp up over 30 months from 2025 to an annualized capacity of 60 million tonnes per year. The company said its share of the production will be 27 million tonnes.
https://www.investegate.co.uk/announcement/rns/rio-tinto--rio/simandou-iron-ore-project-update/7924083
Further to MM,s post this morning on the other thread...."""A couple more points of note:
Whoever has the ZIOC twitter account (AT) must have hot footed from the AGM to then be in Riyadh yesterday, suggesting some urgency, and
ZIOC talk of ‘progressing engagement with strategic partners (plural)’ which implies said partners are both already known/selected and themselves already working towards Zanaga development.
The tweet really was something to behold."""
and my thoughts....MM. I honestly believe that the entire "consortium" have all been in place for some considerable time now, and that it is just a matter of each of them requiring all the necessary boxes to be ticked to their satisfaction before the final and official confirmation is announced. I believe one of those boxes was Zioc acquiring someone with the reputation of the new CEO with his past reputation of delivering major projects. As already stated on here, it is very telling that he has not yet been appointed to the board. From memory (no time at the mo to dig deep and look back) but were not Simandou not bought out by a consortium (Winning ??); I believe very shortly that he will become the CEO and board member of our "Winning".
As usual... Alwayshoping....and now adding these days....fortheverybestforallofusverysoon.
MM. I honestly believe that the entire "consortium" have all been in place for some considerable time now, and that it is just a matter of each of them requiring all the necessary boxes to be ticked to their satisfaction before the final and official confirmation is announced. I believe one of those boxes was Zioc acquiring someone with the reputation of the new CEO with his past reputation of delivering major projects. As already stated on here, it is very telling that he has not yet been appointed to the board. From memory (no time at the mo to dig deep and look back) but were not Simandou not bought out by a consortium (Winning ??); I believe very shortly that he will become the CEO and board member of our "Winning".
As usual... Alwayshoping....and now adding these days....fortheverybestforallofusverysoon
PRINT18 December 2023
Saudi Arabia to invest $12 billion in steel projects
Читайте українськоюЧитайте на русскомVadim Kolisnichenko
By increasing steel production, the country plans to meet a significant increase in domestic demand
Saudi Arabia intends to invest about $12 billion in steel projects to increase steel production and meet the significant growth in domestic demand for the relevant products. This is reported by HellenicShippingNews.
According to Khalid Al-Mudaifer, Deputy Minister of Industry and Mineral Resources of Saudi Arabia, the demand for steel, which is the basis of the construction industry, is already high due to large-scale projects being implemented as part of the Gulf Kingdom’s economic diversification program until 2030.
Mudaifer added that the construction mega-projects launched in Saudi Arabia over the past few years are worth more than 5 trillion riyals ($1.33 trillion), and most of these projects are currently under development.
«Implementation of these projects has significantly increased and will increase the demand for steel. We expect demand to grow at least 2.5 times in the next few years,» he added.
In May 2023, the largest steel producer in China, Baoshan Iron & Steel, signed an agreement with the oil and gas giant Saudi Aramco and the Public Investment Fund of Saudi Arabia (PIF) on the creation of creation of a joint steel enterprises. The plant is planned to be commissioned by the end of 2026.
As GMK Center reported, last September Saudi Arabia announced its intention to implement three steel production projects worth $9.32 billion. The country’s government held negotiations with local and international investors. It was planned that the total production capacity of the new steel enterprises would be about 6.2 million tons.
https://gmk.center/en/news/saudi-arabia-to-invest-12-billion-in-steel-projects/
as usual...alwayshoping
PRINT18 December 2023
Saudi Arabia to invest $12 billion in steel projects
Читайте українськоюЧитайте на русскомVadim Kolisnichenko
By increasing steel production, the country plans to meet a significant increase in domestic demand
Saudi Arabia intends to invest about $12 billion in steel projects to increase steel production and meet the significant growth in domestic demand for the relevant products. This is reported by HellenicShippingNews.
According to Khalid Al-Mudaifer, Deputy Minister of Industry and Mineral Resources of Saudi Arabia, the demand for steel, which is the basis of the construction industry, is already high due to large-scale projects being implemented as part of the Gulf Kingdom’s economic diversification program until 2030.
Mudaifer added that the construction mega-projects launched in Saudi Arabia over the past few years are worth more than 5 trillion riyals ($1.33 trillion), and most of these projects are currently under development.
«Implementation of these projects has significantly increased and will increase the demand for steel. We expect demand to grow at least 2.5 times in the next few years,» he added.
In May 2023, the largest steel producer in China, Baoshan Iron & Steel, signed an agreement with the oil and gas giant Saudi Aramco and the Public Investment Fund of Saudi Arabia (PIF) on the creation of creation of a joint steel enterprises. The plant is planned to be commissioned by the end of 2026.
As GMK Center reported, last September Saudi Arabia announced its intention to implement three steel production projects worth $9.32 billion. The country’s government held negotiations with local and international investors. It was planned that the total production capacity of the new steel enterprises would be about 6.2 million tons.
https://gmk.center/en/news/saudi-arabia-to-invest-12-billion-in-steel-projects/
as usual...alwayshoping
As "Vale" have been mentioned on here many times as a potential "partner" in any buy out or joint venture, it is interesting to note that our new CEO has Vale on his CV.