Islamabad, Apr 10, 2025: Pakistan Petroleum Limited (PPL) has recently signed Amendment No. 1 to its Operating Agreement with the Government of Balochistan (GoB), originally established on November 15, 2004.
This amendment expands the scope of their collaborative Baryte, Lead, and Zinc (BLZ) Project.
Specifically, it incorporates the region covered by Mining Lease No. 16, granted in December 2021 for Lead and Zinc extraction in Khuzdar District, into the existing framework of the Barytes Project in Gunga, as announced by PPL on Thursday.
The updated agreement designates the Balochistan Minerals Exploration Company (BME), a GoB-affiliated organization, as the operator of the enlarged BLZ Project.
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Furthermore, the agreement prioritizes local employment, providing job opportunities for the surrounding community.
However, the financial obligations for the project will be shared between PPL and the provincial government, in alignment with their respective ownership stakes.
PPL will cover its portion of the funding using its internal cash resources, while the provincial government will contribute through a separate financing mechanism.
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A comprehensive Bankable Feasibility Study, conducted by DMT (Germany) in 2019, has affirmed the project’s financial viability.
Currently under development, the BLZ Project is projected to generate average yearly revenues of $144 million and a net present value of $356 million over its estimated 32-year operational lifespan.
