NRL gets minerals exploration lease

KARACHI: National Resources Limited (NRL) said on Monday it had received an exploration lease for minerals in Chagai district of Balochistan province. The lease covers an area of 500 square kilometres and was issued after fulfilling all legal and other formalities, NRL, a subsidiary of Liberty Mills Limited, said in a statement. NRL had applied for lease in early 2022 and the lease has been issued after fulfilling all legal and other formalities.

The statement said the project, when materialised will attract major investment in mining and will also generate direct and indirect employment opportunities for people in Pakistan, especially Balochistan. "Subject to feasibility, NRL will attempt to refine the product locally before being exported."

NRL has received NOCs from Environmental as well as Forest & Wildlife department, enabling it to start the exploration activities. NRL board has approved an exploration plan, and currently, exploration resources are being hired to start the physical activities soon.

NRL spokesman said the company plans to hire all its human resources from within Pakistan, especially from Balochistan. "We also plan to hire a major foreign consultancy firm to supervise the entire exploration activities. Foremost assignment of this foreign consultancy would be to train the local engineers to make them capable of handling such exploration activities on their own."

NRL is confident that this award will encourage many other Pakistani domestic companies to venture into the mining sector. Mining Sector has been picked up as one of priority areas to revive our ailing economy and SIFC has developed a road map to revamp and streamline the whole mining chain from seeking to apply for a mine lease right up to delivering a value added product. "We aim to match SIFC’s vision that mining activities and resulting exports should contribute to at least 5 percent of the national GDP."

Refrence Dawn News : https://epaper.brecorder.com/2023/10/24/4-page/975200-news.html