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Saudi Arabia has shown interest in acquiring government stakes in Reko Diq gold and copper mine, an official said on Tuesday, in what would be a major deal for the crisis-ridden $350 billion economy.<\/p>\n
Barrick Gold Corp, which owns<\/a> a 50 per cent stake in the mine, considers the mine one of the world\u2019s largest underdeveloped copper-gold areas.<\/p>\n Pakistan narrowly averted sovereign default earlier this year after a last-gasp $3bn bailout<\/a> from the International Monetary Fund (IMF), but the deal rests on bringing in foreign direct investment to shore up critically low foreign exchange reserves.<\/p>\n Islamabad has appointed an international adviser to do a valuation of its stake in the mine and expects this to be completed before Dec 25, after which talks will begin with Riyadh, Jahanzeb Khan, the prime minister\u2019s adviser on special investments, told journalists.<\/p>\n