ISLAMABAD: Pakistan and Saudi Arabia are expected to make progress on a potential investment deal in the Reko Diq copper and gold project during a three-day mineral forum that began on Tuesday in Riyadh, an energy ministry official said.

A high-level Pakistani delegation led by caretaker Energy Minister Muhammad Ali is attending the Future Minerals Forum (FMF), a platform to promote mineral value chains in Africa, Western and Central Asia.

The secretary of the petroleum division and officials from the Special Investment Facilitation Council (SIFC), Pakistan Mineral Development Corporation (PMDC), Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL) and Geological Survey of Pakistan (GSP) will also be part of the delegation. The Forum will be held from January 9-11 in Riyadh.

The delegation is also likely to discuss Saudi Arabia's interest in building a refinery in Pakistan, the official said. "Pakistan authorities may also take up this issue of paramount importance with Aramco officials during the visit." Aramco wants the participation of Sinopec—a Chinese company in the refinery project and Pakistan has agreed to it.

Saudi Arabia is seeking to attract SR63.7 billion ($170 billion) worth of investment in the mining industry by 2030 to help the country capitalize on its wealth of mineral resources, the total value of which is estimated to exceed SR4.88 trillion ($1.3 trillion), an official said.