Lucky Cement Limited is stepping deeper into Pakistan’s mineral sector, committing up to Rs1.2 billion to its associate firm, National Resources (Private) Limited (NRL), for copper and gold exploration in Chagai, Balochistan.
The investment follows NRL’s recent discovery of significant copper and gold deposits in the region, a find that could hold major economic potential for Pakistan’s underdeveloped mining industry.
Details of the Deal
In a notice to the Pakistan Stock Exchange on Monday, Lucky Cement said its board has cleared additional equity funding for NRL. The plan involves subscribing to new shares and purchasing 250 ordinary shares from Muhammad Ali Tabba, a related party.
NRL will channel the funds into pre-feasibility work, including geological surveys, drilling operations, and resource estimation — all crucial steps before any large-scale extraction begins.
A Strategic Mining Partnership
NRL, in which Lucky Cement owns a one-third stake, was formed as a joint venture to focus on metal exploration and mining, with gold and copper as its primary targets. The Chagai district, already known for deposits at Saindak and Reko Diq, has long been regarded as one of Pakistan’s richest mineral belts.
The deal still needs shareholder approval under Section 199 of the Companies Act, 2017, as well as other regulatory clearances.
Why It Matters
If the discovery proves commercially viable, it could not only diversify Lucky Cement’s portfolio beyond construction materials but also inject fresh momentum into Pakistan’s largely untapped mining sector — an industry that has historically struggled due to underinvestment and infrastructure challenges.