Mari Petroleum Company Limited (MARI), one of Pakistan’s leading energy and exploration corporations, has been granted permission to explore for minerals near Chagai, Balochistan.
MARI informed the Pakistan Stock Exchange of the event on Friday.
“The Directorate General Mines & Minerals Balochistan has granted an Exploration Licence (EL-186) and allotted an area of 501 sq. km to Mari Petroleum Company Limited for mineral exploration near Dalbandin, District Chagai, Balochistan,” according to the notice.
MARI stated that the award is consistent with its strategy of “diversifying into near core areas and its commitment to contributing to the growth of Pakistan’s mineral mining sector.”
The mining industry has recently received attention as officials aim to attract international investment in the mostly untapped sector.
Islamabad hosted the first Pakistan Mineral Summit earlier this month in order to attract international investors interested in the country’s mining sector. Barrick Gold Corporation CEO and President Mark Bristow, Saudi Mining Minister Engineer Khalid bin Saleh Al Madifar, and other investors were in attendance.
General Syed Asim Munir, Chief of Army Staff, stated at the time that the conference established new guidelines for domestic and foreign businesses in the country.
“We will ensure an investor-friendly system that avoids unnecessary delays and provides simple business terms and conditions.” There are several mining potentials in our country that will be realised through collaborative efforts.”
