Renowned Egyptian billionaire, Naguib Sawiris, has set his sights on expanding his business endeavors in Pakistan, with a particular interest in the Reko Diq gold-copper mine, while giving an interview to Bloomberg.
Sawiris, who has amassed his wealth in the telecom and gold industries, sees Pakistan as a promising investment destination.
In a recent interview, he shared his interest for the project: “I have an advantage over other investors. I’m familiar with the country, and I have friends here. We want to be on the Pakistani side because I have been here for 25 years.”
Although the billionaire didn’t disclose the exact amount he intends to invest, he expressed his determination to move forward despite the challenges, including the scarcity of geological data.
He boldly stated, “If there is concrete in my way, I’ll drill through it and I’ll go. I have never let anybody in my life hold me back from what I wanted to achieve.”
Notably, the Reko Diq mine is jointly owned, with Canada’s Barrick Gold controlling half of it, and the remaining half held by the governments of Pakistan and Balochistan.
According to Barrick, this mine is one of the world’s largest untapped copper-gold regions.
Recently, Barrick CEO Mark Bristow mentioned a growing interest in the Reko Diq project from international players who were previously hesitant due to perceived risks.
It’s worth noting that Saudi Arabia is also considering involvement, which could bring stability and support to the project.
