Islamabad: According to reports, the Balochistan Mineral Exploration Company (BMEC), a joint venture of the governments of Balochistan and Pakistan and the concession holder of EL199, which includes the Reko diq and Tanjeel reserves, has received an unsolicited proposal from the National Resources Private Limited (NRL) to develop and implement the Tanjeel reserves as a starter project, followed by the creation of the Reko diq and Tanjeel reserves.
Arif Habib Equity Pvt. Ltd., Mari Petroleum Company Ltd., Liberty Mills Ltd., Reliance Commodities Pvt. Ltd. (Fatima Group), Y.B. Pakistan Ltd. (Lucky Group), and South Western Mining Pvt. Ltd. have formed NRL, a domestic joint venture company.
The growth, according to a statement released by BMEC on Sunday, will usher in a new era for the province’s advancement.
NRL summarized the salient features of the submitted plan in an introductory presentation to the BMEC Board.
He also asked the BMEC Board to allow NRL to conduct additional mineral, oil, and water resource investigations, which would be essential for the project’s rapid growth.
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Hafiz Abdul Basit, BMEC Board Chairman and Balochistan Additional Chief Secretary Growth, praised the initiative and assured NRL representatives that the matter will be reviewed by the transaction advisor and handled in accordance with the rules, in the province’s and country’s best interests.