Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    Gen V Season 2 trailer
    Videos

    Gen V Season 2 Trailer Cast, Plot, Premiere Details

    July 26, 2025 3 Min Read
    IShowSpeed Daniel La Belle race
    Videos

    IShowSpeed Beats Daniel La Belle in 40-Meter Race, Hits 41M Subscribers

    June 24, 2025 2 Min Read
    Cardi B new single Outside
    Videos

    Cardi B’s ‘Outside’ Single Sparks Buzz Over Offset and Stefon Diggs

    June 20, 2025 2 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: Pakistan’s Anticipated Deal with Saudi Arabia on Reko Diq Shares
PhotoNews Pakistan PhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
Pakistan New Year Ban
PhotoNews Pakistan > Business > Pakistan’s Anticipated Deal with Saudi Arabia on Reko Diq Shares
Business

Pakistan’s Anticipated Deal with Saudi Arabia on Reko Diq Shares

Web Desk
By Web Desk Published November 8, 2023 2 Min Read
Share
In an interview with Arab News Pakistan on November 6, 2023, Caretaker Prime Minister Anwaar-ul-Haq Kakar, Islamabad. Photo Screenshot - Arab News
SHARE

Caretaker Prime Minister Anwaar-ul-Haq Kakar has indicated that Pakistan expects to finalize a deal with Saudi Arabia by December to sell shares in the Reko Diq project.

The project is one of the world’s largest gold and copper mines located in Balochistan. In his interview with Arab News, PM Kakar expressed optimism about the negotiations, highlighting the government’s enthusiasm for Saudi participation in this significant venture.

Current Stakeholders and Potential Saudi Involvement

The Reko Diq project currently involves several key stakeholders. Canadian company Barrick Gold Corporation holds a 50% share, while a consortium of Pakistani governmental entities owns 25%. Balochistan holds the remaining 25%.

#WATCH: Prime Minister Anwaar-ul-Haq Kakar tells Arab News government hopes for deal by December for Saudi Arabia to buy stakes in Reko Diq gold-copper mining project, the first time Pakistan has officially confirmed it is considering selling it shares.
–https://t.co/28brvoEYUV pic.twitter.com/DdZLLVyRN8

— Arab News Pakistan (@arabnewspk) November 7, 2023

The project, valued at over $7 billion, has the potential to produce substantial amounts of copper and gold annually. Although Barrick Gold Corporation is not selling its stake, it is open to Saudi Arabia purchasing the shares held by the Pakistan government.

In addition to the Reko Diq discussions, PM Kakar emphasized the role of the newly established Special Investment Facilitation Council (SIFC). The SIFC aims to streamline foreign investment processes and address bureaucratic challenges.

With initiatives like the SIFC, Pakistan hopes to attract significant foreign investment, potentially exceeding $60 billion in the next five years. The SIFC is part of a broader strategy to enhance Pakistan’s investment climate and foster economic growth through foreign direct investments and strategic partnerships.

TAGGED:Featured
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Advertisement

HBL Saving Made Easy
HBL Saving Made Easy

Recent Posts

World Bank

World Bank Commits $20 Billion Loan to Support Pakistan’s Development

Asia Cup 2023 Tickets

Asian Cricket Council Revises Asia Cup 2025 Match Timings

Trump and Modi

Trump Cancels India Visit as Trade and Diplomatic Tensions Escalate

Post Archives

More Popular from Photonews

Pakistan Hockey Team India Asia Cup 2025
Sports

Pakistan Secures Rs250M for FIH Pro League Amid PHF Controversy

3 Min Read
Salman Akram Raja on Aliya Hamza's tweet
Pakistan

Imran Khan Rejects Salman Akram Raja’s Resignation Amid PTI By-Election Dispute

3 Min Read
NDMA flood warning Punjab
Punjab

NDMA Warns of Extreme Flood Threats in Punjab Amid Heavy Rains

6 Min Read
Sindh

Sindh Approves CNIC-Based Number Plates

Sindh Chief Minister Syed Murad Ali Shah has approved a new number plate system that is…

August 24, 2025
Entertainment

Shakira’s Las Mujeres Ya No Lloran Tour Generates $300M in 2025

Shakira's "Las Mujeres Ya No Lloran" World Tour, which began in February, has generated an estimated…

August 24, 2025
Sports

Michael Irvin Slams Dallas Cowboys for Trading Micah Parsons to Green Bay

On August 29, 2025, NFL Hall of Famer Michael Irvin expressed outrage over the Dallas Cowboys’…

August 30, 2025
Entertainment

Mingus Reedus Faces New Assault Charges in NYC, Ordered to Stay Away

Mingus Lucien Reedus, the 25-year-old son of actor Norman Reedus and former model Helena Christensen, was…

August 25, 2025
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2024 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?