PAKISTAN
Fatima Fertilizer Company Limited has informed the Pakistan Stock Exchange (PSX) of a significant copper-gold mineralization discovery made by its joint venture partner, National Resources (Private) Limited (NRL), in District Chagai, Balochistan. Fatima Fertilizer holds a 33.33% equity stake in NRL.
The discovery was made at an exploration lease granted in October 2023. NRL has identified multiple prospects within the leased area, with one site, “Tang Kaur,” advancing to the drilling phase. Thirteen diamond drill holes totaling 3,517 meters have been completed, with the first six confirming mineralized zones between 48 and 148 meters. The intercepts show copper equivalent grades ranging from 0.28% to 0.56%.
Further advanced drilling at Tang Kaur is scheduled for May 2025, followed by a NI 43-101 Technical Report by year-end. A 3–4 year exploration program and feasibility studies are planned, while additional prospects within the lease continue to be evaluated.
NRL has also secured a Lead-Zinc exploration lease adjacent to a known deposit and is assessing the potential for downstream processing through a complete metal value chain.
To expand its exploration footprint, NRL is working with the Government of Balochistan and the Special Investment Facilitation Council (SIFC) to secure two more copper-gold licenses, supported by a $100 million exploration fund. It has also entered into an MoU with Oil and Gas Development Company (OGDC) to jointly develop newly acquired leases.
NRL places a strong focus on sustainability and community development, with over 90% local employment and ongoing programs in clean water, healthcare, education, and local business support.
Fatima Fertilizer stated that these developments represent a strategic step toward portfolio diversification and long-term value creation for shareholders. However, the company noted that the discovery is at a preliminary stage and further studies are required to assess its commercial viability. Updates will be provided as progress continues. – Engineering Review
