PPL has been granted a large scale mining lease for Lead and Zinc, in District Khuzda

Pakistan Petroleum Limited has informed Pakistan Stock Excahgne (PSX) about grant of Large Scale Mining Lease Deed by the Government of Balochistan (GoB) in favor of the company. According to a notification of PPL, the Company has been granted a large scale Mining Lease for Lead and Zinc, in District Khuzdar, by the Government of Balochistan and in this regard a Large Scale Mining Lease Deed has been executed, for large scale mining and establishment of a Lead-Zinc processing plant in District Khuzdar, Balochistan over an area covering 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.

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