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Saudi’s Manara Minerals to buy stake in Pakistan’s Reko Diq gold project: FT reports
Saudi Arabian mining fund Manara Minerals is set to buy a 10%-20% in the Reko Diq copper and gold project in Pakistan for proceeds of about $500 million to $1 billion, the Financial Times reported on Tuesday. Pakistan’s Reko Diq mine to generate $74bn in free cash flow over 37 years, Barrick CEO says Manara Minerals would buy the equity stake from the government of Pakistan in the project, which is being co-developed by Canada’s Barrick Gold, the FT said, citing sources. Last week, Pakistani Petroleum Minister Musadik Malik said Manara Minerals could invest in the Reko Diq mine in the next two quarters. ... (full story)
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- Posted: Jan 21, 2025 6:54am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 116
