Reko Diq: Govt rejects reports of deal finalised with Saudi Arabia

Musadik Malik says negotiations are ongoing and progressing positively, however, no deal has been finalised yet

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Petroleum Minister Musadik Malik has denied reports of a deal with Saudi Arabia regarding the Reko Diq project.

In a meeting with journalists in Islamabad on Tuesday, Malik said negotiations with Saudi Arabia over Reko Diq are ongoing and progressing positively. However, he clarified that no deal has been finalised yet.

He expressed hope that a deal with Saudi Arabia would be finalised soon, with strong prospects for completion by early 2025.

He further clarified that the news about cabinet approval for the deal was also incorrect. However, a committee has been formed to oversee the deal, which has completed its work.

Earlier, it was reported that federal cabinet has approved the sale of a 15% stake in the Reko Diq mining project to Saudi Arabia, under an intergovernmental transaction agreement.