Pakistan Petroleum Limited has notified the Pakistan Stock Exchange (PSX) that the Government of Balochistan (GoB) has granted the business a Large Scale Mining Lease Deed. According to PPL’s notification, the Government of Balochistan has granted the company a large scale mining lease for lead and zinc in District Khuzdar, and a Large Scale Mining Lease Deed has been executed in this regard, for large scale mining and the establishment of a Lead-Zinc processing plant in District Khuzdar, Balochistan over an area of 30 sq.km (7413.16 acres).
The lease is valid for a term of thirty (30) years and shall be operated by Bolan Mining Enterprises, a 50:50 Joint Venture between PPL & GoB.
The estimated reserves of barite, lead and zinc are 69 Million Tonne as per bankable feasibility by a renowned German Consultant, over a portion of the leased area. The project would entail open pit mining with an ore beneficiation / process plant. Positive cashflows are expected from year 3 while the estimated project life is 32 years.