{"id":101094,"date":"2025-01-16T17:03:19","date_gmt":"2025-01-16T12:03:19","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=101094"},"modified":"2025-01-16T17:03:23","modified_gmt":"2025-01-16T12:03:23","slug":"reko-diq-mine-interests-ksas-manara-minerals","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/reko-diq-mine-interests-ksas-manara-minerals.html","title":{"rendered":"Reko Diq mine attracts investment interest from Saudi Arabia"},"content":{"rendered":"\n

Islamabad: Saudi Arabia\u2019s Mining Minister, Bandar Alkhorayef, has revealed that Manara Minerals, a prominent Saudi mining company, is evaluating a potential investment in Pakistan\u2019s Reko Diq mine. The Saudi Development Fund (SDF) is also exploring the possibility of contributing over $100 million to enhance Pakistan\u2019s mining infrastructure.<\/p>\n\n\n\n

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Speaking on the sidelines of the Future Minerals Forum in Riyadh, Alkhorayef emphasized the importance of infrastructure development to ensure the economic viability of mining projects. \u201cWithout that infrastructure, the economics of the deal are not attractive, so through the Saudi Development Fund, we are thinking about how we can finance it,\u201d he stated.<\/p>\n\n\n\n

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Read:<\/strong> Gold deposits worth PKR 800 bn discovered in Attock, Punjab<\/a><\/p>\n\n\n\n

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Pakistan\u2019s Petroleum Minister, Musadik Malik, expressed optimism about Manara Minerals\u2019 potential involvement in the Reko Diq project. He indicated that significant announcements regarding copper mining, including the Reko Diq mine and its surrounding areas, are expected within the next quarter or two.<\/p>\n\n\n\n

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\u201cWe\u2019re very hopeful that this year, we will make some big announcements, both in the way of Reko Diq, but hopefully also in mines around it,\u201d Malik said. He also confirmed that discussions with Manara Minerals are ongoing, along with talks with other Gulf countries about potential mining investments in Pakistan.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Executives from Manara Minerals visited Pakistan in May last year to explore the possibility of acquiring a stake in Reko Diq. The mine, jointly owned by global mining giant Barrick Gold and the Government of Pakistan, is considered one of the world\u2019s largest undeveloped copper-gold deposits.<\/p>\n\n\n\n

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Read:<\/strong> Assessment project launched for placer gold deposits in River Indus<\/a><\/p>\n\n\n\n

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Manara Minerals, a joint venture between Saudi Arabia\u2019s state-controlled miner Ma\u2019aden and the $925-billion Public Investment Fund (PIF), is part of the kingdom\u2019s efforts to diversify its economy beyond oil by investing in global mining assets.<\/p>\n\n\n\n

The potential investment is expected to strengthen Pakistan\u2019s mining sector and bolster its economy by unlocking the value of Reko Diq\u2019s vast mineral resources.<\/p>\n","protected":false},"excerpt":{"rendered":"

Islamabad: Saudi Arabia\u2019s Mining Minister, Bandar Alkhorayef, has revealed that Manara Minerals, a prominent Saudi mining company, is evaluating a potential investment in Pakistan\u2019s Reko Diq mine. The Saudi Development Fund (SDF) is also exploring the possibility of contributing over $100 million to enhance Pakistan\u2019s mining infrastructure. Speaking on the sidelines of the Future Minerals Forum in Riyadh, Alkhorayef emphasized the importance of infrastructure development to ensure the economic viability of mining projects. \u201cWithout that infrastructure, the economics of the deal are not attractive, so through the Saudi Development Fund, we are thinking about how we can finance it,\u201d he stated. Read: Gold deposits worth PKR 800 bn discovered in Attock, Punjab Pakistan\u2019s Petroleum Minister, Musadik Malik, expressed optimism about Manara Minerals\u2019 potential involvement in the Reko Diq project. He indicated that significant announcements regarding copper mining, including the Reko Diq mine and its surrounding areas, are expected within the next quarter or two. \u201cWe\u2019re very hopeful that this year, we will make some big announcements, both in the way of Reko Diq, but hopefully also in mines around it,\u201d Malik said. He also confirmed that discussions with Manara Minerals are ongoing, along with talks with other Gulf countries about…<\/p>\n","protected":false},"author":18,"featured_media":67076,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15012],"tags":[61852,55474,61848,61859,61853,61851,61857,47122,61855,61860,14796,61856,61850,34475,61861,61858,61847,61854,61849],"persona":[],"class_list":{"0":"post-101094","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-allied-industries","8":"tag-bandar-alkhorayef","9":"tag-barrick-gold","10":"tag-copper-mining","11":"tag-economic-diversification","12":"tag-future-minerals-forum","13":"tag-gold-mining","14":"tag-gulf-investments","15":"tag-infrastructure-development","16":"tag-maaden","17":"tag-manara-minerals","18":"tag-mineral-resources","19":"tag-mining-opportunities","20":"tag-musadik-malik","21":"tag-pakistan-economy","22":"tag-pakistan-mining-sector","23":"tag-public-investment-fund","24":"tag-reko-diq-mine","25":"tag-saudi-arabia-investment","26":"tag-saudi-development-fund","27":"cat-15012-id"},"acf":[],"yoast_head":"\nReko Diq mine interests KSA's Manara Minerals - 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