MARI granted license to explore minerals in Chagai, Balochistan

Mari Petroleum Company Limited (MARI), one of Pakistan’s largest energy and exploration companies, has received approval for mineral exploration in Chagai, Balochistan.

MARI shared the development in its notice to the Pakistan Stock Exchange on Friday.

“The Directorate General Mines & Minerals Balochistan has granted an Exploration License (EL-186) and allotted an area of 501 sq. km to Mari Petroleum Company Limited for mineral exploration near Dalbandin, District Chagai, Balochistan,” read the notice.

MARI said that the grant is 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”.

The mining sector has recently been in the limelight as authorities seek to attract foreign investments in the largely unexplored sector.

Earlier this month, Islamabad conducted the first Pakistan Mineral Summit to attract international investors interested in the country’s mining sector. This was attended by Barrick Gold Corporation CEO and President Mark Bristow, Saudi Mining Minister Engineer Khalid bin Saleh Al Madifar and other investors.

Chief of Army Staff General Syed Asim Munir had said at the time that the summit had laid down new rules for ease of doing business for domestic and foreign investors in the country.

“We will ensure an investor-friendly system that avoids unnecessary delays and provides easy terms and conditions for business. There are vast mining opportunities in our country which will be realized through joint efforts.”