The Directorate General Mines & Minerals Balochistan has granted two Exploration Licenses for mineral exploration in District Chagai of Balochistan to Mari Mining Company (Private) Limited (MMC), which is a wholly owned subsidiary of Mari Petroleum Company Limited (PSX: MARI).
It is pertinent to mention that MPCL established the MMC to undertake mineral mining projects within the Country. The grant of new licenses aligns with MPCL’s strategy to expand its portfolio of mining projects and reflects its commitment to contributing to the growth of Pakistan’s mineral mining sector.
MARI is principally engaged in the exploration, production, and sale of hydrocarbons.
At the time of filing, the company’s scrip at the bourse was Rs. 2,713.39, up 1.36 percent or Rs. 36.51 with a turnover of 14,433 shares on Wednesday.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
Advocates High Court & Tax Counsel
Jurisdiction: Pakistan