Biafo signs contract with RDMC for blasting services

MG News | February 10, 2025 at 10:39 AM GMT+05:00

0:00

February 10, 2025 (MLN): Biafo Industries Limited (PSX: BIFO) has entered into a contract with Reko Diq Mining Company (Private) Limited (RDMC) to provide blasting services for civil works,the company's filing on PSX revealed today.

This agreement covers the supply of explosives and related civil blasting services for the pre-mining initial infrastructure development at the Reko Diq mining site.

Following this development, the company's share price soared from its opening of Rs182.25 to Rs198.50, registering an impressive 8.93% gain.

BIFO was incorporated in Pakistan on 07 September 1988 as a public limited company under the Companies Ordinance, 1984 (now the Companies Act, 2017).

The Company started its commercial production on 01 July 1994 and is principally engaged in the manufacturing of commercial explosives and blasting accessories including detonators and other materials.

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