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The Reko Diq copper and gold project in Pakistan is expected to generate an impressive $74 billion in free cash flow over 37 years, according to Barrick Gold CEO Mark Bristow. Project Overview Reko Diq, located in Balochistan, is a joint venture between Barrick Gold (holding a 50% stake) and the governments of Pakistan and …
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Riyadh: Saudi Arabian mining company Manara Minerals is expected to invest in Pakistan’s Reko Diq mine within the next two quarters, according to Pakistan’s Petroleum Minister Musadik Malik. The investment could mark a significant step in the development of one of the world’s largest undeveloped copper-gold reserves. Manara’s Growing Role in Global Mining Manara Minerals …
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In a significant development, Saudi Arabia is set to purchase 15% of the shares of the Reko Diq project for $540 million. The federal cabinet has approved the deal, which will be completed under the Inter-Governmental Transaction Act. Payment Structure and Timeline Saudi Arabia will pay Pakistan in two installments. The first installment of $330 …
Continue reading “Saudi Arabia to Purchase 15% Shares of Reko Diq for $540 Million”
