Islamabad, Feb 28: Mari Minerals (Pvt.) Ltd., a subsidiary of Mari Energies Limited (PSX: MARI), has taken a major step in expanding its footprint in Pakistan’s mineral sector. The company has entered into a joint venture agreement with IRH Mining RSC Ltd., Balochistan Mineral Resources Limited (BMRL), and the Government of Balochistan. This partnership grants Mari Minerals a significant stake in two key mineral exploration licenses in the resource-rich region of Chagai, Balochistan.
According to a stock exchange filing, Mari Minerals will hold a 25% (minus one share) interest in exploration licenses EL302 and EL303. The agreement, however, is subject to regulatory approvals before becoming fully operational.
A spokesperson from Mari Energies emphasized that this strategic acquisition aligns with the company’s long-term vision of diversifying into near-core sectors. By tapping into Pakistan’s vast mineral resources, the company aims to drive sustainable growth and contribute to the country’s economic development.
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Mari Energies, primarily known for its expertise in hydrocarbon exploration, production, and sales, has been steadily broadening its portfolio. In addition to its core oil and gas operations, the company has been actively investing in mineral exploration and technological advancements. This latest venture underscores its commitment to leveraging Pakistan’s natural resources while ensuring long-term industry sustainability.
With this strategic expansion, Mari Minerals is well-positioned to play a pivotal role in strengthening Pakistan’s mining sector, fostering new economic opportunities, and supporting the country’s natural resource development initiatives.
