{"id":102290,"date":"2025-05-19T11:34:00","date_gmt":"2025-05-19T06:34:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=102290"},"modified":"2025-05-19T15:28:44","modified_gmt":"2025-05-19T10:28:44","slug":"pak-saudi-talks-ongoing-on-reko-diq","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/pak-saudi-talks-ongoing-on-reko-diq.html","title":{"rendered":"Pak-Saudi talks ongoing on Reko Diq; production to begin in 2028"},"content":{"rendered":"\n

Islamabad: Parliamentary Secretary for Energy Mian Khan Bugti informed the National Assembly on Thursday that discussions between Pakistan and Saudi Arabia regarding the Reko Diq Copper-Gold Project are currently underway, although Saudi Arabia has not yet made any investment commitment.<\/p>\n\n\n\n

Responding to a question from Mirza Ikhtiar Baig during the Question Hour, Mian Khan Bugti said technical teams from both countries are actively engaged in exploring potential investment opportunities. These efforts are based on an updated feasibility study of the project, aiming to finalize terms that could lead to Saudi participation.<\/p>\n\n\n\n

Read: Gold mining officially begins in Kohat\u2019s Resai area<\/a><\/p>\n\n\n\n

In a written reply to Aliya Kamran, the federal government provided details about the project\u2019s timeline and production targets. The first phase of production at Reko Diq is scheduled to begin in 2028, with expected annual output of 300,000 ounces of gold and 200,000 tons of copper. The second phase, planned for 2034, aims to increase output to 500,000 ounces of gold and 400,000 tons of copper annually.<\/p>\n\n\n\n

The Reko Diq project is projected to be the largest Western investment in Pakistan, with forecasted free cash flows exceeding US$75 billion over the mine\u2019s current life plan of nearly 37 years. The government emphasized that these projections are based on conservative estimates of real cash flows.<\/p>\n\n\n\n

Read: Pak ready for global Investment in mining, IT, agriculture: PM Sharif<\/a><\/p>\n\n\n\n

In a related matter, during the same session, the government addressed concerns about petroleum levies. It was revealed that despite reductions in international petroleum prices from March 1 to April 16, no relief was passed on to consumers. The Petroleum Development Levy (PDL) on petrol was increased by Rs18 per liter and by Rs17 per liter on high-speed diesel.<\/p>\n\n\n\n

The Ministry of Petroleum stated that the decision to raise the levy was made to generate additional revenue, which the government intends to use in the public interest, citing the opportunity provided by the decline in international oil prices to adjust the maximum PDL rates.<\/p>\n\n\n\n

Read: Balochistan\u2019s Mining Sector Set for Boost with KSA\u2019s Investment<\/a><\/p>\n\n\n\n

The ongoing talks on the Reko Diq project and recent fiscal measures reflect Pakistan\u2019s efforts to attract foreign investment while managing economic challenges.<\/p>\n","protected":false},"excerpt":{"rendered":"

Islamabad: Parliamentary Secretary for Energy Mian Khan Bugti informed the National Assembly on Thursday that discussions between Pakistan and Saudi Arabia regarding the Reko Diq Copper-Gold Project are currently underway, although Saudi Arabia has not yet made any investment commitment. Responding to a question from Mirza Ikhtiar Baig during the Question Hour, Mian Khan Bugti said technical teams from both countries are actively engaged in exploring potential investment opportunities. These efforts are based on an updated feasibility study of the project, aiming to finalize terms that could lead to Saudi participation. Read: Gold mining officially begins in Kohat\u2019s Resai area In a written reply to Aliya Kamran, the federal government provided details about the project\u2019s timeline and production targets. The first phase of production at Reko Diq is scheduled to begin in 2028, with expected annual output of 300,000 ounces of gold and 200,000 tons of copper. The second phase, planned for 2034, aims to increase output to 500,000 ounces of gold and 400,000 tons of copper annually. The Reko Diq project is projected to be the largest Western investment in Pakistan, with forecasted free cash flows exceeding US$75 billion over the mine\u2019s current life plan of nearly 37 years.…<\/p>\n","protected":false},"author":18,"featured_media":101152,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016],"tags":[62041,61449,31136,4295,2254,32,36113,64781,14927,106],"persona":[],"class_list":{"0":"post-102290","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"tag-copper-gold-project","9":"tag-economic-policy","10":"tag-energy-sector","11":"tag-foreign-investment","12":"tag-national-assembly","13":"tag-pakistan","14":"tag-petroleum-levy","15":"tag-production-timeline","16":"tag-reko-diq","17":"tag-saudi-arabia","18":"cat-15016-id"},"acf":[],"yoast_head":"\nPak-Saudi talks ongoing on Reko Diq - 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