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According to sources on Wednesday, Saudi Arabia is set to invest one billion US dollars in the Reko Diq gold and copper project. The finance ministry sources revealed plans to sell shares of OGDCL and PPL to Saudi Arabia, with preparations underway for the investment next month. A committee, to be formed by the prime minister, will oversee the Saudi investment in the Reko Diq project, comprising officials from the finance ministry, OGDCL, PPL, and the energy ministry. Following the constitution of the committee, a summary will be sent to the Ministry of Finance and the energy ministry. Committee members are expected to visit Saudi Arabia for final negotiations. An inter-governmental agreement for investment in the Reko Diq project will be signed between Pakistan and the Kingdom of Saudi Arabia. Reko Diq, considered to have one of the largest untapped reserves of copper and gold globally, is anticipated to commence mining operations in 2028, as per Barrick's feasibility study. Last December, Pakistan and Barrick Gold Corporation signed an $8 billion agreement on the Reko Diq project, one of the world's largest undeveloped copper-gold mines, which has been inactive since 2011. Barrick Gold's delegation informed Prime Minister Shehbaz Sharif that the feasibility study is expected to be completed by the end of 2024, with a focus on employing local and Balochistan-based individuals for the project. #Investment #Progress #NewsAlert

According to sources on Wednesday, Saudi Arabia is set to invest one billion US dollars in the Reko Diq gold and copper project. The finance ministry sources revealed plans to sell shares of OGDCL and PPL to Saudi Arabia, with preparations underway for the investment next month. A committee, to be formed by the prime minister, will oversee the Saudi investment in the Reko Diq project, comprising officials from the finance ministry, OGDCL, PPL, and the energy ministry. Following the constitution of the committee, a summary will be sent to the Ministry of Finance and the energy ministry. Committee members are expected to visit Saudi Arabia for final negotiations. An inter-governmental agreement for investment in the Reko Diq project will be signed between Pakistan and the Kingdom of Saudi Arabia. Reko Diq, considered to have one of the largest untapped reserves of copper and gold globally, is anticipated to commence mining operations in 2028, as per Barrick's feasibility study. Last December, Pakistan and Barrick Gold Corporation signed an $8 billion agreement on the Reko Diq project, one of the world's largest undeveloped copper-gold mines, which has been inactive since 2011. Barrick Gold's delegation informed Prime Minister Shehbaz Sharif that the feasibility study is expected to be completed by the end of 2024, with a focus on employing local and Balochistan-based individuals for the project. #Pakistan #Saudiarabia #RekoDiq #Gold #Barrickgold

Saudi Arabia has offered a 15% investment in the Pakistan's Reko Diq gold and copper project, along with grants for road infrastructure development around the project. The Special Investment Facilitation Council has approved the offer's structure, but the final decision awaits the Cabinet Committee on Intergovernmental Transactions' approval. Pakistan expects up to $5 billion in Saudi investment in the mining and agriculture sectors by June next year. The Reko Diq project, considered one of the world's largest undeveloped copper-gold mines, was restarted after an $8 billion agreement was signed between Pakistan, Barrick Gold Corporation, and the federal and Balochistan governments in December last year. The project, on hold since 2011, aims to start mining in 2028, subject to an ongoing feasibility study. Barrick's CEO, Mark Bristow, emphasized the significance of the project, stating, "Reko Diq is one of the bigger copper-gold undeveloped projects in the world. Any copper mine right now is a big deal." #RekoDiqProject #SaudiInvestment #CopperGoldMining

Saudi Arabia has offered a 15% investment in the Pakistan's Reko Diq gold and copper project, along with grants for road infrastructure development around the project. The Special Investment Facilitation Council has approved the offer's structure, but the final decision awaits the Cabinet Committee on Intergovernmental Transactions' approval. Pakistan expects up to $5 billion in Saudi investment in the mining and agriculture sectors by June next year. The Reko Diq project, considered one of the world's largest undeveloped copper-gold mines, was restarted after an $8 billion agreement was signed between Pakistan, Barrick Gold Corporation, and the federal and Balochistan governments in December last year. The project, on hold since 2011, aims to start mining in 2028, subject to an ongoing feasibility study. Barrick's CEO, Mark Bristow, emphasized the significance of the project, stating, "Reko Diq is one of the bigger copper-gold undeveloped projects in the world. Any copper mine right now is a big deal." #RekoDiqProject #SaudiInvestment #CopperGoldMining

It is deeply concerning to learn that many of our Leaders have not thoroughly examined the proposed National Gold Corporation Bill and its extensive implications. The lack of meaningful consultation, despite previous promises, is unacceptable and undermines transparency and accountability in the legislative process. The concerns raised by Anthony Smaré and the PNG Chamber of Resources & Energy regarding the Bill are valid and alarming. The creation of a National Gold Corporation with majority foreign ownership raises serious questions about the sovereignty of our nation. Granting such significant powers to a foreign entity without adequate safeguards poses a significant risk to our economy and national interests. Furthermore, the Bill's failure to mandate the refining of gold within PNG and its broad application to encompass all precious metals exacerbate the complexity and uncertainty of an already precarious situation. It is imperative that the National Government engages transparently with industry stakeholders and addresses these concerns before proceeding with the Bill. Failure to do so could have devastating consequences for the Mining sector, state agencies, and our economy as a whole. I urge the government to prioritize transparency, accountability, and the well-being of our nation in all legislative matters.

Great news from KEFI Gold and Copper on the progress at the Tulu Kapi gold project in Ethiopia! As the project moves towards launch, the significance of establishing a robust infrastructure cannot be understated. At Soil Solutions, we are ready to support this venture with our advanced soil stabilization and dust control technologies. Our solutions can significantly enhance the structural integrity of access roads and other critical infrastructure, ensuring durability and sustainability. By improving road safety and reducing maintenance costs, we can help Kefi not only meet but exceed their operational and environmental management goals. Here’s to a successful project launch and a brighter, more prosperous future for the local communities! Intelligent Mining Solutions https://lnkd.in/dR32Z2qU #MiningDevelopment #SustainableMining #GoldMining #soilstabilization #dustcontrol #innovativesolutions #advancedtechnology #roadsafety #lowmaintenance #dustfree #operationalefficiency #costeffective #waterconservation #carbonreduction #environmentallyfriendly #sdg

According to recent reports, Saudi Arabia is preparing to invest a staggering one billion US dollars in Pakistan's Reko Diq gold and copper project. Finance ministry sources have disclosed plans to sell shares of OGDCL and PPL to Saudi Arabia, with the investment expected to kick off next month. An oversight committee, to be established by the prime minister, will supervise Saudi Arabia's investment in the Reko Diq project, featuring officials from the finance ministry, OGDCL, PPL, and the energy ministry. Once the committee is formed, a formal proposal will be submitted to the Ministry of Finance and the Energy Ministry. Committee members are also slated to visit Saudi Arabia for final negotiations. Pakistan and the Kingdom of Saudi Arabia are poised to ink an intergovernmental agreement for this substantial investment in the Reko Diq project, which boasts one of the largest untapped reserves of copper and gold worldwide. Mining operations at Reko Diq are anticipated to commence in 2028, according to Barrick's feasibility study. In December of last year, Pakistan and Barrick Gold Corporation signed an $8 billion agreement regarding the Reko Diq project, which is one of the world's largest undeveloped copper-gold mines and has been inactive since 2011. During a meeting with Prime Minister Shehbaz Sharif, Barrick Gold's delegation assured that the feasibility study is on track for completion by the end of 2024, with a strong emphasis on employing local and Balochistan-based individuals for the project. #Pakistan #SaudiArabia #RekoDiq #Gold #BarrickGold #newsheadlines #news #information #newstoday

Saudi Arabia is progressing in talks to acquire a stake in a Zambian copper mine, with a deal anticipated by year’s end, according to Ma’aden CEO Robert Wilt. Speaking at the Future Investment Forum in Riyadh, Wilt, who also serves as vice chairman of Manara Minerals , a joint venture between Ma’aden and the Saudi Public Investment Fund (PIF)—shared that discussions are in “pretty advanced” stages. Sources indicated that Manara is close to securing a 15% to 20% equity stake in Canadian miner First Quantum Minerals' Zambian copper and nickel assets, estimated between $1.5 billion and $2 billion. “Africa’s mineral-rich copper belt and our growing need for copper make Zambia a logical choice,” Wilt added. This potential deal aligns with Saudi Arabia’s Vision 2030 strategy, spearheaded by Crown Prince Mohammed Bin Salman, to diversify from oil dependency. Manara’s international mining interests began with a 10% stake in Vale’s Base Metals in 2023, and copper has become a top priority as Saudi Arabia strengthens its supply chain in metals essential for energy transition.

A major win for President HH! This article highlights a potentially substantial investment by the UAE-based company, IHC, in a Zambian copper mine is a testament to the dynamic nature of the Zambian and African mining environment. This investment is a significant boost towards Zambia's goal of tripling copper output to 3 million tons per annum. Moreover, such investments are crucial for Zambia to sustainably manage its debt crisis, especially considering that last year’s copper production fell to a 14-year low. The geopolitical competition to secure access to green metals is diversifying daily, with new BRICS members like Saudi Arabia and the UAE joining the fray. IHC, in particular, seems well-positioned to succeed against other shortlisted investors, including mining heavyweights South Africa's Sibanye Stillwater and China’s Zijin Mining Group. In essence, this development underscores the fact that the drive towards a zero-emission global economy, while still a long way off, is already influencing and will likely continue investments in places like Zambia and the DRC. For companies looking to seize these opportunities, it’s crucial to establish a presence within Zambia, rather than attempting to access opportunities from outside. Africa Deployments can assist you in establishing a presence in the country using our Employer of Record solution, without the need to register a local legal entity. Feel free to reach out to me for an appointment or click on the link below for more information. #CopperMining #IHCInvestment #GreenMetals #BRICSNations #ZeroEmissionEconomy #AfricaDeployments #EmployerOfRecord https://lnkd.in/dug9Mt6y