Saudi Manara Minerals' team in Pakistan for talks on Reko Diq mine stake, document shows [Yahoo! Finance]
Barrick Gold Corporation (BC) (GOLD)
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Source: Yahoo! Finance
about buying a stake in Pakistan's Reko Diq gold and copper mine, a Pakistan government document showed on Monday. The mine, located in Pakistan's restive southwestern Balochistan province, is considered one of the world's largest underdeveloped copper-gold areas by global mining company Barrick Gold Corp, which owns the project jointly with Pakistan. The Manara officials are part of a large delegation of Saudi investors and companies that arrived in Islamabad on Sunday, according to a document seen by Reuters listing officials in the delegation. The document listed Manara Minerals' general manager as wanting to "continue the negotiations on the Reko Diq project". Barrick has said it will invest up to $10 billion to develop the project. Manara Minerals, a joint venture between state-owned Saudi miner Ma'aden and Saudi Arabia's Public Investment Fund (PIF), declined to comment. Pakistan's Petroleum Minister Musadik Malik and Commerce Minister Jam Kamal said on Monday that t
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