Pakistan Petroleum Expands Mining Portfolio with New Joint Venture in Balochistan

Islamabad, Pakistan Petroleum Limited (PPL) has announced a Joint Venture Agreement (JVA) with Degan Exploration Works (DEW) to explore and develop mineral resources in District Chagai, Balochistan. The venture focuses on exploration license EL-207, within the mineral-rich Chagai Metallogenic belt known for significant copper and gold deposits.

The collaboration between PPL and DEW, a subsidiary of Frontier Works Organization, reflects a distribution of interests at 49% and 51% respectively. DEW, which operates the EL-207 site, has been granted exploration rights by the Government of Balochistan. According to information available from the Pakistan Stock Exchange (PSX), PPL plans to invest approximately USD 11.5 million in the initial exploration phase over the next three years.

The investment aims to support extensive exploration activities in the area, which is famed for hosting world-class deposits such as Reko Dig and Saindak. The strategic move is expected to enhance PPL’s mining portfolio and provide significant opportunities within the Chagai Metallogenic belt.