PPL gets mining lease deed

MG News | December 13, 2021 at 11:04 AM GMT+05:00

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December 13, 2021 (MLN): Pakistan Petroleum Limited (PPL) has been granted a large scale mining lease for Lead and Zinc, in district Khuzdar, by the Government of Balochistan (GoB), the company filing on PSX revealed today.

In this regard, a large-scale mining lease deed has been executed, for large scale mining and the 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 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 tonnes 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 cash flows are expected from year 3 while the estimated project life is 32 years, the notice said.

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