RMI Expands into Saudi Arabia with Strategic JV Acquisition

Resource Minerals International Ltd (ASX: RMI) has exercised its option to acquire AuKing Mining’s stake in a joint venture with Barg Alsaman Mining Company, securing a 50% interest in the granted Shaib Marqan exploration licence in Saudi Arabia. Covering 91.8 km², the licence is prospective for gold and base metals, with initial sampling in 2024 returning high-grade gold assays and further results pending from a March 2025 program.

The project sits within the Ar Rayn Terrane, a proven mineral belt hosting gold, copper, zinc, and IOCG deposits. With the licence now approved, RMI will advance detailed exploration including mapping, sampling, and targeted drilling. This acquisition positions RMI as one of the few ASX-listed explorers with a direct foothold in Saudi Arabia’s rapidly expanding mining sector, aligned with the Kingdom’s Vision 2030 initiative to diversify its economy and attract global investment in critical minerals.

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