Saudi Arabia has secured a 15% share in Pakistan’s Reko Diq mining project for $540 million. The agreement, approved by Pakistan’s federal cabinet, will be executed in two phases. In the first phase, Saudi Arabia will pay $330 million for a 10% stake, followed by $210 million for an additional 5% in the second phase.
Beyond this deal, Saudi Arabia’s Fund for Development has committed $150 million to support Balochistan’s mining sector. This investment aims to strengthen the region’s mining capabilities and unlock its economic potential.
Reko Diq, located in Balochistan, is home to one of the world’s largest untapped reserves of copper and gold. Its vast deposits hold the promise of significant economic benefits for Pakistan.
This collaboration between Pakistan and Saudi Arabia is seen as a major step towards advancing the mining industry in the region. It not only brings financial investment but also strengthens ties between the two countries, opening doors for future economic partnerships.
With Saudi Arabia’s involvement, Pakistan hopes to maximize the potential of Reko Diq, driving growth in the mining sector and creating new opportunities for the local economy. This partnership is expected to play a vital role in tapping into the country’s natural resources and boosting long-term economic development.
