QUETTA: Pakistan Petroleum Limited (PPL) has received conditional approval from the Government of Balochistan to explore precious and base metals and minerals in Chagai district, marking another major step in the province’s emerging mineral sector.
The approval covers Exploration License (EL-331) and allows PPL to explore for metals and associated minerals in the mineral-rich Chagai region, the company said in a filing to the Pakistan Stock Exchange (PSX) on Friday.
PPL said the initiative aligns with its long-term strategy to diversify beyond hydrocarbons and strengthen business sustainability. “The company remains committed to expanding its footprint in Pakistan’s mineral sector,” the filing stated.
The company added that the final approval would follow once all legal, regulatory, and procedural requirements are completed.
The development comes amid renewed investor interest in Balochistan’s mineral wealth, particularly in Chagai, which hosts significant deposits of copper, gold, and other strategic minerals.
Earlier this year, Mari Energies Limited, through its wholly owned subsidiary Mari Minerals (Private) Limited, signed a joint venture agreement with IRH Mining RSC Ltd, Balochistan Mineral Resources Limited (BMRL), and the Government of Balochistan. The deal granted Mari a 25% (less one share) stake in two exploration licenses — EL302 and EL303 — also located in Chagai.
Mari Energies said the agreement represents a strategic shift toward mining as part of its diversification beyond oil and gas. The company said it aims to strengthen Pakistan’s mineral sector and contribute to its long-term growth and sustainability.
Despite the announcement, Mari Energies’ shares fell Rs8.45, or 1.51%, to Rs550.00 on Friday.
Earlier, on February 12, Mari Minerals signed another deal with Sanjrani Mining Company (Pvt) Limited (SMC) to acquire an 87.5% stake and operatorship in multiple mineral exploration licenses covering 40 square kilometers in Chagai.
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Both PPL and Mari Energies, traditionally focused on oil and gas, are now expanding into mining to capitalize on Pakistan’s untapped mineral potential and reduce reliance on hydrocarbons.
