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The Competition Commission of Pakistan (CCP) has granted approval to two mergers in the mining of copper and minerals sector in Balochistan.

CCP approved acquisition of a cumulative 66.66 % shareholding in National Resources (Private) Limited by two public listed companies – Lucky Cement Limited and Fatima Fertilizer Company Limited.

National Resources (Private) Limited is a private limited company engaged in the exploration, survey, extraction, excavation, mining, and boring of minerals. Its primary purpose is the potential development of the mineral sector in Balochistan.

Lucky Cement to invest Rs4bn in Lucky Core Ventures and National Resources Limited

“The infusion of investment in this sector will give a boost to mineral exploration,” CCP spokesperson said in a statement on Thursday.

Lucky Cement Limited, a public listed company engaged in the manufacturing and marketing of cement, sent a pre-merger application to acquire 33.33% shares in National Resources from Y.B. Pakistan Limited.

Similarly, Fatima Fertilizer Company Limited, a public listed company, engaged in the manufacturing, producing, buying, selling, importing, and exporting of fertilizers and chemicals, sent a pre-merger application to acquire 33.33 % shareholding in National Resources from Reliance Commodities (Private) Limited.

Interview with Amir Iqbal, CEO - Sindh Engro Coal Mining Company

“CCP approved the mergers as the proposed transactions did not lead to the acquirers’ gaining dominance in the relevant market post-transaction.

“Lucky Cement and Fatima Fertilizer’s interest in investing in the mining sector signifies a positive shift towards economic diversification and growth, promising to unlock new opportunities and drive innovation,” the spokesperson said.

Comments

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Tayabullah Feb 19, 2024 08:17pm
I want the job safety superviser and fir safety and also have done nebosh and fire safety
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