Saudi firm Manara may invest in Reko Diq mine

Saudi Arabian mining company Manara Minerals could invest in Pakistan's Reko Diq mine in the next two quarters, Pakistan's Petroleum Minister Musadik Malik said on Tuesday. Manara, a joint venture between state-controlled miner Ma'aden and the $925-billion Public Investment Fund (PIF), was set up as part of the kingdom's efforts to diversify its economy away from oil, including by buying minority stakes in assets overseas. "I'm very hopeful that in the next quarter or two we will have very big announcements," Malik said on the sidelines of the Future Minerals Forum in Riyadh, adding they would be copper-related.