Papuan Precious Metals acquires shares of Saudi iron ore project to benefit from MENA’s growing pellets need

摘要

Exploration and development company Papuan Precious Metals has acquired an interest in Saudi Arabia’s Wadi Sawawin Iron Ore mine. The project will produce pellets, addressing growing DRI production in the MENA countries. Presently, DRI-modules in the MENA region are altogether capable of making 17.32 million t of HBI per annum, with Saudi Arabia accounting for 38.7%, the UAE – 30% and Qatar – 13.6%, Metal Expert reported earlier.