KARACHI: Mari Petroleum Company Limited (MPCL) said on Friday it had received approval for mineral exploration in the southwestern province of Balochistan.
MARI said in a notice to the Pakistan Stock Exchange that it had been granted an exploration license for an area of 501 square kilometres near Dalbandin, district Chagai, by the provincial mines and minerals department.
The company said the grant was in line with its strategy to diversify into near core areas and its commitment to contributing to the growth of the mineral mining sector of Pakistan. Balochistan is rich in mineral resources, such as copper, gold, coal and iron ore, but remains largely unexplored due to security challenges and lack of infrastructure.
Pakistan is seeking to attract foreign investment in its mining sector, which accounts for less than 3 percent of its gross domestic product.
Earlier this month, Islamabad hosted the first Pakistan Mineral Summit, attended by
local and international investors, including Barrick Gold Corporation CEO Mark Bristow and Saudi Mining Minister Khalid bin Saleh Al Madifar.
https://www.thenews.com.pk/print/1103785-mpcl-to-explore-minerals
