July 21 (Reuters) - Alara Resources Ltd AUQ.AX :
* Alara announces new jv partner in Saudi Arabia
* Says joint venture framework agreement with Bayan Mining LLC (Bayan) for
mining opportunities in Saudi Arabia
* Says Alara will be responsible for procuring or providing funding for the
project, up to and including project finance stage
* Says any funds provided by Alara will be treated as a loan to the joint
venture on commercial terms
* Says loan is to be repaid from the proceeds of the project, before any
distributions to the parties
* Source text for Eikon ID:nASX59Z7Fn