Metal Bank Limited (ASX:MBK) has announced it’s setting up a JV entity in Saudi Arabia as part of the company’s overall Middle East & North Africa (MENA) expansion plans. That entity will be 60% owned by MBK and 40% by another party called Central Mining Holding Company (CMHC) – the latter is a member of the Al Qahtani Group and helped develop the Jabal Sayid Project. CMHC paid up around A$2M in costs for working capital for the JV. Metal Bank is hopeful this agreement can help it strike what it understands to be highly prospective acreage available in the Saudi Kingdom. Metal Bank has also ac…