Pakistan Petroleum Limited (PPL) has received conditional approval from the Government of Balochistan for the grant of Exploration License EL-331 to explore precious and base metals in District Chagai, the company informed the Pakistan Stock Exchange (PSX) on Friday.
In a notice to the exchange, PPL said the approval is subject to the fulfilment of all relevant legal, regulatory and procedural requirements.
“The Government of Balochistan has conditionally approved the application submitted by PPL for the grant of license, i.e. EL-331, for exploration of precious and base metals group and associated minerals in District Chagai, Balochistan,” the filing stated.
The development is part of PPL’s strategy to expand its presence in Pakistan’s mineral sector and diversify beyond hydrocarbons to ensure long-term sustainability.
Chagai is part of the Chagai Metallogenic Belt, known for significant copper and gold deposits, including Reko Diq and Saindak. Last year, PPL entered a joint venture agreement with Degan Exploration Works (DEW) to pursue mineral exploration opportunities in the region.
PPL, a state-owned E&P company, operates key oil and gas assets including the Sui gas field and holds working interests in various onshore and offshore exploration blocks.
