Pakistan and Saudi Arabia are nearing a significant investment deal in Pakistan’s copper and gold mines, particularly the Reko Diq mine in Balochistan province. The mine is one of the world’s largest underdeveloped copper and gold mines. Both countries have made considerable progress in their discussions, with valuation frameworks and ranges in place. Negotiations are now underway, with significant announcements expected soon.
The Saudi Arabian mining company Manara Minerals is expected to invest in Reko Diq within the next two quarters. Manara is a joint venture between Saudi state-controlled miner Ma’aden and the Public Investment Fund (PIF). Pakistan is also in talks with other Gulf countries about similar investment opportunities. The country is seeking to capitalize on its vast natural resources and attract foreign investment to its mining sector.