Joint Venture agreement has been reached with IRH Mining RSC Ltd. and Balochistan Mineral Resources Limited as well as the Government of Balochistan for a purchase of interest of 25% in two Mineral Exploration Licenses in Chagai.
Mari Minerals Private Limited, a wholly-owned subsidiary of Mari Energies Limited, has executed a Joint Venture Agreement with IRH Mining RSC Ltd, BMRL, and the Government of Balochistan for a 25% (less one share) interest in two Exploration Licenses EL302 and EL303 in Chagai, Balochistan.
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The energy exploration and production powerhouse reported this movement to the Pakistan Stock Exchange (PSX) through a notice on Friday as part of their compliance with Section 96 of the Securities Act of 2015 and Clause 5.6.1 (a) of the PSX Regulations.
In a recent PSX notice, the company said, “We are glad to inform the market that Mari Minerals Private Limited, Maris wholly owned subsidiary that was formerly Mari Mining Company Pvt has instead of joining the rest of the world and trod down the IRH Mining RSC Ltd BMRL and the Government of Balochistan and GoB has gone the other way.
