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ASEC Company for Mining – Ascom – (ASCM.CA) has denied on Thursday that the firm is entering a partnership with Saudi Al-Fawzan Group so as to establish a mining company in the KSA with stake of 70%.
On the other hand, Al-Fawzan Group had also denied earlier on Wednesday what has been published in Egyptian and Gulf new portals about the tie-up between Ascom and Al-Fawzan.
Additionally, Al Fozan’s spokesman stated that neither the group nor any of its subsidiaries has negotiated with ASCOM in this regard.
