ISLAMABAD: Pakistan has established a negotiation committee to finalize the sale of a 15% stake in the Reko Diq copper and gold mining project to Saudi Arabia’s Public Investment Fund (PIF). The committee will review the price discovery mechanism prepared by international advisors, assess the Saudi offer, and draft a commercial agreement. The Cabinet Committee on International Governmental Commercial Transactions…
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ISLAMABAD: The government has planned to set up a new dedicated Mines and Minerals Division as part of efforts to accelerate mining activities to give a big push to Pakistan’s economy.This is in line with the attempts made in the previous tenure of Pakistan Democratic Movement (PDM) government, which strived to establish the Mines and Minerals Division to ramp up…
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ISLAMABAD: A federal government panel has asked Reko Diq Mining Company (RDMC) to share their logistic technical requirements of the project like initial and peak volume to be transported, power, gas and water as the company is unwilling to use Gwadar Port for the time being, well informed sources in Planning Commission told Business Recorder. Sharing the details, the sources said,…
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• Evaluation of mining project’s share price complete, says PC chief• Insists $70bn expected under SIFC based on ‘real offers’ from friendly countries• Defends military’s involvement in decision-making due to its ‘capabilities’ ISLAMABAD: Talks with Saudi Arabia on the sale of stakes in the multibillion-dollar Reko Diq gold and copper mine will begin soon, the head of the Planning Commission…
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ISLAMABAD: The federal government is considering selling the shares it holds in the Reko Diq project to Saudi Arabia to attract investment from the gulf state which is keen to become part of this copper-gold project, The News has learnt reliably and confirmed from the relevant officials. Under the revised agreement, 50 percent of shares are held by Canadian company…
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