Saudi Arabia moves closer to $1bn Barrick Pakistan deal

Saudi Arabia is moving closer to a potential deal to acquire a minority stake in a Pakistan mine controlled by Barrick Gold, people with knowledge of the matter said. Manara Minerals Investment, backed by the Saudi sovereign wealth fund, plans to invest at least $1-billion in the Reko Diq copper and gold mining project, the people said. It could announce that it’s reached a preliminary agreement on terms of a transaction as soon as the next few weeks, according to the people.