{"id":101128,"date":"2025-01-20T14:52:26","date_gmt":"2025-01-20T09:52:26","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=101128"},"modified":"2025-01-20T14:55:18","modified_gmt":"2025-01-20T09:55:18","slug":"pak-saudi-arabia-advance-reko-diq-talks","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/pak-saudi-arabia-advance-reko-diq-talks.html","title":{"rendered":"Economic ties strengthened as Pak, KSA advance Reko Diq talks"},"content":{"rendered":"\n<p>Islamabad: Pakistan and Saudi Arabia are edging closer to finalizing a multibillion-dollar agreement on the Reko Diq copper and gold mining project, signaling a significant boost in economic cooperation between the two nations. Official sources report that the deal, currently in its advanced stages, is expected to be concluded in the coming months.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Under the proposed agreement, Saudi Arabia is set to acquire an initial 10% stake in the Reko Diq project, with the potential to increase its share in the future. This strategic investment underscores Saudi Arabia&#8217;s growing interest in Pakistan\u2019s mining sector, particularly in one of the world\u2019s largest undeveloped copper and gold reserves.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/reko-diq-saudi-arabia-talks-final-phase.html\">Reko Diq Copper-Gold Project: Saudi Fund negotiations reach final stage<\/a><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>A major breakthrough in the negotiations was achieved when both sides resolved a dispute regarding foreign exchange arrangements. Initially, Saudi authorities had requested that a foreign exchange account for machinery procurement be maintained outside Pakistan. However, the two parties have now agreed that the foreign exchange will be brought into Pakistan, paving the way for smoother progress.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>The revised valuation of project shares has been completed, with improved figures that have been shared with Saudi authorities. Negotiations are now focused on finalizing the finer points of the deal. \u201cThe deal is in its final stages and could be concluded soon, though no specific timeframe has been set,\u201d a senior official involved in the talks revealed.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Located in Balochistan, Reko Diq is considered one of the largest undeveloped copper and gold mines globally. Its development has been a focal point for attracting foreign investment and strengthening economic ties between Pakistan and Saudi Arabia.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/gold-worth-pkr-800-bn-discovered-in-attock.html\" target=\"_blank\" rel=\"noreferrer noopener\">Gold deposits worth PKR 800 bn discovered in Attock, Punjab<\/a><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>The project is expected to not only boost Pakistan\u2019s mining sector but also enhance bilateral economic cooperation, reinforcing Saudi Arabia\u2019s commitment to diversifying its investments under its Vision 2030 plan.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>As the negotiations near conclusion, the Reko Diq deal is poised to become a cornerstone of Pakistan-Saudi Arabia economic relations, promising long-term benefits for both nations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Pakistan and Saudi Arabia are edging closer to finalizing a multibillion-dollar agreement on the Reko Diq copper and gold mining project, signaling a significant boost in economic cooperation between the two nations. Official sources report that the deal, currently in its advanced stages, is expected to be concluded in the coming months. Under the proposed agreement, Saudi Arabia is set to acquire an initial 10% stake in the Reko Diq project, with the potential to increase its share in the future. This strategic investment underscores Saudi Arabia&#8217;s growing interest in Pakistan\u2019s mining sector, particularly in one of the world\u2019s largest undeveloped copper and gold reserves. Read: Reko Diq Copper-Gold Project: Saudi Fund negotiations reach final stage A major breakthrough in the negotiations was achieved when both sides resolved a dispute regarding foreign exchange arrangements. Initially, Saudi authorities had requested that a foreign exchange account for machinery procurement be maintained outside Pakistan. However, the two parties have now agreed that the foreign exchange will be brought into Pakistan, paving the way for smoother progress. The revised valuation of project shares has been completed, with improved figures that have been shared with Saudi authorities. Negotiations are now focused on finalizing the&hellip;<\/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":[15016],"tags":[1952,48672,61948,61059,61947,7077,4295,61957,3619,61951,61950,61949,32,61955,61956,14927,106,61953,61954,61952],"persona":[],"class_list":{"0":"post-101128","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"tag-balochistan","9":"tag-bilateral-cooperation","10":"tag-copper-and-gold-mining","11":"tag-economic-cooperation","12":"tag-economic-ties","13":"tag-foreign-exchange","14":"tag-foreign-investment","15":"tag-global-mining-projects","16":"tag-investment-opportunities","17":"tag-mining-project","18":"tag-mining-sector","19":"tag-multibillion-dollar-deal","20":"tag-pakistan","21":"tag-pakistan-saudi-relations","22":"tag-project-valuation","23":"tag-reko-diq","24":"tag-saudi-arabia","25":"tag-saudi-stake","26":"tag-saudi-vision-2030","27":"tag-strategic-investment","28":"cat-15016-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pak, Saudi Arabia Advance Reko Diq Talks - Zameen News<\/title>\n<meta name=\"description\" content=\"Saudi Arabia is set to acquire an initial 10% stake in the Reko Diq project, with the potential to increase its share in the future....\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/pak-saudi-arabia-advance-reko-diq-talks.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pak, Saudi Arabia Advance Reko Diq Talks - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Saudi Arabia is set to acquire an initial 10% stake in the Reko Diq project, with the potential to increase its share in the future....\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/pak-saudi-arabia-advance-reko-diq-talks.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-20T09:52:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-20T09:55:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/06\/Reko-Diq.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"421\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Samra Zulfiqar\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Samra Zulfiqar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Pak, Saudi Arabia Advance Reko Diq Talks - Zameen News","description":"Saudi Arabia is set to acquire an initial 10% stake in the Reko Diq project, with the potential to increase its share in the future....","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/pak-saudi-arabia-advance-reko-diq-talks.html","og_locale":"en_US","og_type":"article","og_title":"Pak, Saudi Arabia Advance Reko Diq Talks - Zameen News","og_description":"Saudi Arabia is set to acquire an initial 10% stake in the Reko Diq project, with the potential to increase its share in the future....","og_url":"https:\/\/www.zameen.com\/news\/pak-saudi-arabia-advance-reko-diq-talks.html","og_site_name":"Pakistan Real Estate News &amp; 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