The Middle East’s biggest producer of aluminum may sell shares to the public as soon as the third quarter of 2023.

The partnership would build a hydro-metallurgical complex with an output capacity of 67,000 tonnes of nickel and 7,500 tonnes of cobalt per year.

The company will also look to collaborate with Tsingshan Group.

The industry is flush with cash after last year’s record profits, while boards and managers believe they have the support of key investors after promising to avoid the reckless overspending of the last cycle.

Should all go to plan, Reko Diq will be the first copper-gold mine in the country’s Balochistan province.

Country will limit construction of nickel smelters to ensure new plants produce high-value products and follow green principles.