Magnum Mining and Exploration Limited (AU:MGU) has released an update.
Magnum Mining & Exploration Ltd has embarked on a significant capital raising venture to secure at least $210 million for a pioneering green pig iron plant in Saudi Arabia, in collaboration with V Capital Consulting Limited and 2×1.Digital Private Limited. Moreover, the company has achieved promising results from metallurgical test work on a sample from its Buena Vista Iron Project in Nevada, demonstrating the potential to produce high-grade magnetite concentrate. This strategic move positions Magnum Mining as a key player in the expanding green iron industry, with potential benefits for investors in both Saudi and U.S. projects.
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