ISLAMABAD: Pakistan has signed a major investment agreement aimed at expanding mineral exploration in Balochistan, a move officials say will generate employment, attract further investment, and strengthen the country’s economy.
The agreement was signed between Globa Core Minerals and Mari Minerals Limited, a subsidiary of Mari Energies. Under the deal, Globa Core Minerals will invest billions of dollars through a joint venture to explore gold and copper reserves in the Chagai district of Balochistan.
Speaking at the signing ceremony, former Federal Minister Gohar Ejaz said Balochistan is rich in mineral resources and that local companies stepping forward to invest reflects growing confidence in Pakistan’s economy. He added that the project would open new job opportunities and help change the country’s economic direction.
In addition to this agreement, five major Pakistani business groups, Lake City Holdings, Fatima Group, Din Group, Hilton Group, and Soorty Group, have also announced large-scale investments in mineral development across the province. The combined market value of these groups is estimated at $5 billion.
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