Saudi Arabia has secured a 15% stake in Pakistan’s Reko Diq mining project for $540 million, a deal approved by Pakistan’s federal cabinet. The agreement will be carried out in two phases. In the first phase, Saudi Arabia will invest $330 million for a 10% share, and in the second phase, it will pay $210 million for an additional 5%.
In addition to this deal, Saudi Arabia’s Fund for Development has pledged $150 million to support the mining sector in Balochistan. This investment is aimed at boosting the region’s mining capabilities and unlocking its economic potential.
Reko Diq, located in Balochistan, is home to some of the world’s largest untapped copper and gold reserves, offering significant economic benefits for Pakistan.