Lucky Cement eyes Rs1.2bn bet on copper-gold venture

MG News | August 11, 2025 at 09:39 AM GMT+05:00

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August 11, 2025 (MLN): Lucky Cement Limited (PSX: LUCK) is set to expand its footprint in mineral exploration through a proposed equity investment of up to Rs1.2 billion in National Resources (Private) Limited (NRL), a joint venture engaged in copper and gold mining in Chagai, Balochistan.

The Board of Directors, in its meeting held on August 8, 2025, recommended subscribing to new shares of NRL and acquiring an additional 250 ordinary shares from Mr. Muhammad Ali Tabba, a related party. Lucky Cement currently holds a 33.33% stake in the venture.

The funds will support NRL’s pre-feasibility studies, including physical geology, drilling, and mineral resource estimation, following a significant mineralization discovery within its licensed area.

The investment is subject to shareholder approval at the upcoming Annual General Meeting, along with other corporate and regulatory clearances under Section 199 of the Companies Act, 2017 and applicable PSX rules.

This strategic move reflects Lucky Cement’s growing interest in resource-based diversification and long-term value creation in Pakistan’s mining sector.

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