ISLAMABAD: The kingdom of Saudi Arabia will invest $1 billion in Pakistan mine, Reko Diq copper and gold mining project.
Saudi Arabia revealed interest to invest in Pakistan mine, Saudi Company Manara Minerals Investmetn Co, supported by the Saudi Sovereign wealth fund, is poised to inject at least $1 billion into the Reko Diq copper and gold mining project, controlled by Barrick Gold Corp.
Saudi Arabia’s interest in diversifying its investment portfolio beyond traditional sectors is evident. Pakistan’s Finance Minister Muhammad Aurangzeb confirmed the kingdom’s keen interest in various sectors, including metals and mining. Aurangzeb hinted at potential announcements regarding investment ventures in the near future.
The potential deal comes on the heels of a significant meeting between Saudi Crown Prince Mohammed bin Salman and Pakistan Prime Minister Shehbaz Sharif earlier this month. Pakistan has actively presented a wide array of investment opportunities to Saudi delegates, encompassing sectors such as solar energy, hydropower, mining, and technology
