Saudi Arabia Shows Interest in Pakistan’s Reko Diq Mine

Islamabad, The Kingdom of Saudi Arabia (KSA) has expressed interest in acquiring stakes in Pakistan’s Reko Diq gold and copper mine. The valuation process for the mine is currently underway and expected to be completed before December 25. This development marks a significant step in foreign investment in Pakistan's mining sector.

According to Zameen.com, Barrick Gold Corp currently holds a 50% stake in the Reko Diq mine, with the remaining 50% divided between the governments of Pakistan and the province of Balochistan. Recognized as one of the world's largest underdeveloped copper-gold areas, the mine has attracted considerable attention for investment and strategic partnerships. While specific details regarding the valuation and the identity of the international adviser are yet to be disclosed, Barrick has previously committed to a USD 10 billion investment in the project and expressed openness to partnering with KSA. Discussions between Islamabad and Riyadh will commence upon the completion of the valuation to finalize the terms of the potential partnership. The Saudi Arabian government's official response to this development is still awaited.