Saudi Arabia Offers to Buy 15% Stake in Pakistan’s Reko Diq Mining Project – Startup Pakistan

Saudi Arabia has expressed interest in acquiring a 15% stake in Pakistan’s Reko Diq mining project and is also offering a significant grant to support local infrastructure development.

This offer comes through the Public Investment Fund (PIF), which is aiming to make the purchase via its company, Manara Minerals. The proposal involves buying a portion of the federal government’s share in the project.

To move forward, a special negotiation committee has been formed to thoroughly evaluate the offer. This committee will carefully assess the terms and conditions put forth by Saudi Arabia and then provide recommendations to the federal cabinet.

The cabinet will make the final decision on whether to accept the offer and under what terms. This potential investment could bring substantial financial support and development to the Reko Diq area, benefiting both the local economy and Pakistan’s broader mining sector.