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BRIEF-Alara Resources announces new JV partner in Saudi Arabia

Published 21/07/2015, 08:38 am
© Reuters.  BRIEF-Alara Resources announces new JV partner in Saudi Arabia
AUQ
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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

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