Saudi Arabia Moves Closer to $1 Billion Barrick Pakistan Deal - Bloomberg
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Saudi Arabia Moves Closer to $1 Billion Barrick Pakistan Deal

  • Manara Minerals said planning to invest in Reko Diq project
  • Saudi Crown Prince and Pakistan Prime Minister met this month
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Saudi Arabia is moving closer to a potential deal to acquire a minority stake in a Pakistan mine controlled by Barrick Gold Corp., people with knowledge of the matter said.

Manara Minerals Investment Co., backed by the Saudi sovereign wealth fund, plans to invest at least $1 billion in the Reko Diq copper and gold mining project, the people said. It could announce that it’s reached a preliminary agreement on terms of a transaction as soon as the next few weeks, according to the people.

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