Balochistan minerals: Five major business groups announce investment plans

QUETTA: Five major business groups of Pakistan - Lake City Holdings, Fatima Group, Deen Group, Hilton Group, and Surti Group - have announced investments worth billions of dollars in Balochistan. The market value of these business groups is USD5 billion.

This comes after Mari Energies Limited disclosed that its wholly owned subsidiary, Mari Minerals (Private) Limited, has entered into a joint venture agreement with Globacore Minerals Limited for mineral exploration activities in the province.

At a recently-held ceremony, former federal minister and business icon Gohar Ejaz said that with the start of mineral development, an era of peace and progress will bring job opportunities in the country.

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Mari is a company owned by Mari Energies, while Globa Core Limited has expertise and experience in exploring gold and copper deposits in Balochistan. Under the agreement, investment will be made in the exploration of precious minerals in Chaghai.

Ijaz said Balochistan is a province rich in mineral resources and local Pakistani companies are investing in Balochistan, which will usher in an era of development and prosperity.