KARACHI: Pakistan Petroleum Limited (PPL) has been granted a large scale mining lease for lead and zinc, in District Khuzdar, by the government of Balochistan. In this regard a large scale mining lease deed has been executed, for large scale mining and establishment of a lead-zinc processing plant in district Khuzdar, Balochistan over an area covering 30 sq km (7413.16 acres), material information sent to Pakistan Stock Exchange on Monday said.
The lease is valid for a term of thirty years and shall be operated by Bolan Mining Enterprises, a 50:50 joint venture between PPL and GoB. The estimated reserves of barite, lead and zinc are 69 million tonne as per bankable feasibility by a renowned German Consultant, over a portion of the leased area.
The project would entail open pit mining with an ore beneficiation/process plant. Positive cashflows are expected from year three while the estimated project life is 32 years, the information said.
Copyright Business Recorder, 2021
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