Mari Minerals acquires 5% stake in Kohesultan Mining

MG News | January 22, 2025 at 10:04 AM GMT+05:00

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January 22, 2025 (MLN): Mari Minerals (Private) Limited has signed a definitive agreement to acquire a 5% interest in Kohesultan Mining Company (Private) Limited (KMCL) from Siahkoh Mining Development (SMC-Private) Limited (SMD).

The company is a wholly owned subsidiary of Mari Energies Limited (PSX: MARI), according to the company's statement issued today.

This agreement is subject to the necessary regulatory approvals.

KMCL, a joint venture between SMD and MCC Tongsin Resources Ltd (MCCT), is responsible for managing the Siahdiq Copper Project located in Chagai, Balochistan.

The acquisition aligns with MariEnergies’ strategic objectives, representing a significant step in its efforts to diversify into sectors closely related to its core business.

Additionally, it aims to support the growth and sustainability of Pakistan's mineral sector.

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