Islamabad, Jan 22: Mari Minerals (Private) Limited, a leading player in the minerals and mining industry and a wholly-owned subsidiary of Mari Energies Limited (PSX: MARI), has recently announced a strategic acquisition that signifies a pivotal step forward in its expansion efforts.
The company will acquire a 5 percent ownership stake in the Kohesultan Mining Company (Private) Limited (KMCL), enhancing its portfolio and reinforcing its presence in the mineral sector.
This move is a testament to Mari Minerals’ commitment to driving growth and sustainability within Pakistan’s burgeoning minerals market.
The acquisition, still pending requisite regulatory approvals, involves purchasing the stake from Siahkoh Mining Development (SMC-Private) Limited, thus deepening its ties within the industry’s intricate network of joint ventures and partnerships.
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KMCL, a joint venture itself between SMC and MCC Tongsin Resources Ltd, oversees the promising Siahdiq Copper Project located in the mineral-rich region of Chagai, Balochistan.
This project is one of the most ambitious in the area, poised to yield significant returns in light of the increasing global demand for copper, driven by technological advancements and renewable energy sectors.
Mari Minerals’ strategic investment in KMCL is more than a financial venture; it’s a bold move towards diversification and securing a foothold in critical near-core sectors that promise substantial economic contributions. By integrating more closely with KMCL, Mari Minerals not only gains access to valuable resources but also leverages KMCL’s expertise and regional influence. This synergy is expected to enhance operational efficiencies and amplify their impact on the local and international markets.
Mari Energies’ decision to expand its stake in KMCL supports its broader strategic goals. Known for its innovative approach, Mari Energies enhances industrial synergy across its subsidiaries. This acquisition will strengthen Mari Minerals and Mari Energies’ market position, enabling them to capitalize on emerging global mineral opportunities.
With this acquisition, Mari Minerals will play a key role in developing Pakistan’s mineral sector. The initiative will also boost its operational capabilities and market reach.
but also contributes significantly to the economic development of Balochistan and Pakistan as a whole. By investing in the region and its resources, Mari Minerals reaffirms its dedication to corporate responsibility and sustainable development, aiming to set new benchmarks in the industry for innovation and environmental stewardship.
