Reko Diq approaches PIBTL for initial phase cargo concentrate

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MG News | November 08, 2024 at 10:59 AM GMT+05:00

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November 08, 2024 (MLN): Pakistan International Bulk Terminal (PSX: PIBTL) announced today that it has been approached by Reko Diq Mining Company (Private) Limited to utilize PIBT's terminal and infrastructure for handling cargo concentrate during the initial phase of the Reko Diq project.

This arrangement is subject to the execution of definitive agreements and requires regulatory and other necessary approvals from relevant authorities, including the Port Qasim Authority.

The company announced this development in its latest filing on the PSX today.

Considering the economic significance of the Reko Diq project for Pakistan, PIBTL is making substantial contributions to support it.

This news led to the company’s stock price reaching the upper cap of Rs1 (15.97%) during early trading hours today.

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