Pakistan’s Petroleum Minister Musadik Malik shared that Saudi Manara Minerals could invest in the Reko Diq mine in the next two quarters. This announcement came during the Future Minerals Forum in Riyadh.
Key Details
| Factor | Details |
|---|---|
| Company | Manara Minerals |
| Investment | Reko Diq Mine |
| Timeline | Next two quarters |
Manara’s Economic Role in Saudi Arabia
Manara is a joint venture between Ma’aden and the Public Investment Fund (PIF). This partnership is part of Saudi Arabia’s strategy to diversify its economy beyond oil by investing in mining ventures overseas.
Table 2: Manara’s Parent Companies
| Company | Role |
|---|---|
| Ma’aden | State-Controlled Mining Company |
| PIF | Saudi Arabia’s Investment Fund |
Positive Prospects for Reko Diq Mine
Minister Malik is optimistic about large investments in copper-related projects. He hopes that both Reko Diq and nearby mines will see big announcements soon, including Manara’s involvement.
Table 3: Potential Developments
| Event | Timeline |
|---|---|
| Manara’s Investment | Next two quarters |
| Other Investments | Ongoing |
Manara Past Visit to Pakistan
Last May, Manara executives visited Pakistan to discuss purchasing a stake in the Reko Diq mine. At that time, Reko Diq was one of the global opportunities they were considering.
Manara Visit Timeline
| Date | Event |
|---|---|
| May (Last Year) | Manara Executives Visited Pakistan |
Pakistan Talks with Other Gulf Countries
Pakistan is also negotiating with other Gulf nations about potential mining investments, which could further strengthen economic ties in the region.
Table 5: Other Gulf Countries’ Role
| Country | Mining Focus |
|---|---|
| Saudi Arabia | Potential Investment in Reko Diq |
| Other Gulf States | Ongoing Mining Investment Talks |
