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.
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.
