Saudi Arabia is anticipated to contribute US$1 billion to the Reko Diq Gold Project.

According to sources in the finance ministry, Saudi Arabia would purchase the shares of the PPL and the OGDCL. According to insiders, “there are plans for Saudi investment next month.”

According to sources in the finance ministry, the prime minister will form a committee to consider Saudi participation in the Reko Diq project. According to insiders, “the committee will be comprised of officials from the energy ministry, PPL, OGDCL, and the finance ministry.”

According to reports, “a summary will be dispatched to the Ministry of Finance and the Ministry of Energy for the constitution of the prime minister’s committee.”

According to insiders, “the committee members will visit Saudi Arabia for final negotiations.”

An intergovernmental agreement will be signed by Pakistan and the Kingdom of Saudi Arabia to invest in the Reko Diq project.

According to experts, Reko Diq has some of the biggest unexplored copper and gold reserves in the world.

According to Mark Bristow, CEO of Barrick, “Reko Diq is one of the bigger copper-gold undeveloped projects in the world.” Mining is scheduled to begin in 2028, pending the completion of a current feasibility study. It’s really significant. Right now, any copper mine is significant.

Pakistan and Barrick Gold Corporation struck a historic $8 billion agreement on the Reko Diq project last December.

One of the biggest undeveloped copper-gold mines in the world is Reko Diq. The project has been put on hiatus since 2011, however it is now being resumed.

During a meeting with Prime Minister Shehbaz Sharif, a delegation from Barrick Gold gave an update on the project and said the feasibility study will be completed by the end of 2024.

Shehbaz Sharif was advised that locals and those with Balochistani citizenship will be given preference when it comes to working on the Reko Diq project.

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