Plutus Strategies has successfully negotiated and agreed terms relevant to establishing a strategic alliance with KSA based industrial group to help them develop a larger presence in the natural resource sector within the Kingdom. The agreement will see Plutus Strategies seeking out and executing natural resource projects within the Kingdom in which Plutus will become an equity stakeholder. Utilising Plutus' in-house expertise the company will review the large amount of opportunities within the Gold, Copper, Iron Ore and Rare Earth sectors.
Plutus believes the Kingdom to host one of the most prospective and underexplored terranes in the world, the Arabian Nubian Shield. The shield covers a large area of KSA, Egypt, Eritrea and Ethiopia. It hosts such world class deposits as the Sukari Gold deposit in Egypt, currently operated by Centamin and producing in excess of 300,000oz pa. Historically exploration within the Kingdom has focussed on hydrocarbon potential only and Plutus believes enourmous potential exists within the hard rock sector.