ISLAMABAD: Three major announcements regarding significant mineral and hydrocarbon discoveries, along with bilateral cooperation for further exploration, highlighted the two-day Pakistan Minerals Investment Forum 2025, which began on Tuesday.

The first announcement came from National Resources Limited (NRL), which revealed the discovery of “significant copper-gold mineralisation in Chagai, Balochistan”. Muhammad Ali Tabba, chairman of NRL — a 100 per cent private firm jointly owned by Fatima Fertiliser, Liberty Mills Limited and Lucky Cement — made the announcement.

The company was awarded a lease in October 2023. The licensed area contained two known porphyry prospects with strong exploration potential. Over the past 15 months, NRL identified 18 new prospects. One of these prospects, “Tang Kaur”, has rapidly progressed to an advanced drilling stage, Mr Tabba said.

He said NRL had completed 13 diamond drill holes (3,517 metres), all of which intersected significant porphyry-style alteration, sheeted and stockwork quartz vein sets, and sulfide mineralisation. Assay results from the first six drill holes (1,500 metres) confirm strongly mineralised, near-surface zones with downhole intervals ranging from 48 to 148 metres, using a 0.2pc copper cut-off grade and up to 10 metres of internal dilution.

Pakistan, Turkiye sign agreement for joint offshore bidding

The average grade of the intercepts ranged from 0.23pc to 0.48pc copper, 0.09 to 0.14 gram per tonne of gold, and 1.30 to 6.21 gram per tonne of silver, resulting in a copper equivalent of 0.28pc to 0.56pc. “The mineralised system remains open to the north, east, and at depth,” he said.

Mr Tabba said advanced drilling at Tang Kaur was scheduled for May 2025, leading to an NI 43-101 Technical Report by year-end by internationally recognised consultants, who were already monitoring the project. This will be followed by three-four years of detailed exploration, culminating in feasibility studies, while exploration of the other prospects and leases continued.

Additionally, NRL has acquired a lead-zinc exploration licence adjacent to a well-known deposit, where a Bankable Feasibility Study has already been conducted. A comprehensive metal value chain is also being studied to assess the feasibility of downstream processing. Calling the indigenous populations as key stakeholders, Mr Tabba said the firm was actively supporting social development through clean water, education, healthcare, and local employment and businesses. “Our current ratio of local employment is above 90pc.”

He said the company was working with government entities to secure two additional copper-gold exploration licences in Chagai, supported by a dedicated $100 million exploration fund. “We have also signed an MoU with Oil and Gas Development Company to work on newly acquired leases together. Looking ahead, NRL plans to bring additional national and international investors into the project as required,” he said.

The second announcement was made by Mari Energies Limited (formerly Mari Gas). Its chief executive Faheem Haider announced the 4th gas/condensate discovery at Spinwam-1 exploratory well in the Lockhart Formation, drilled in Waziristan Block, located in North Waziristan district of Khyber Pakhtunkhwa.

This followed the previous announcements on Feb 25, March 17 and April 3, 2025, highlighting hydrocarbon discoveries in the Samanasuk, Kawagarh, and Hangu formations, respectively, in the same well.

The testing of the Lockhart Formation has shown a flow rate of 70.3 million standard cubic feet per day of gas and approximately 310 barrel per day of condensate at 64/64“ choke size. The Well Head Flowing Pressure (WHFP) of 3,264psig was recorded during the test.

Bidding agreement

In yet another development, Pakistan and Turkiye signed a bidding agreement to jointly participate in offshore bid round in the country.

Pakistani exploration and production companies — Mari Energies, OGDCL and Pakistan Petroleum Limited (PPL) — signed the joint bidding agreement with Turkish state-owned enterprise, Turkiye Petrolleri Anonim Ortaklgi (TPAO).

The agreement was signed by Ahmed Turkoglu, CEO of Turkish Petroleum Corporation, and Faheem Haider of Mari Energies, Ahmad Hayat Lak of OGDCL and Imran Abbasi of PPL.

In February this year, the government of Pakistan announced an offshore block bid round, offering 40 offshore blocks in Makran and Indus basins for the grant of exploration licences.

Published in Dawn, April 9th, 2025