Mari Minerals partners with Globacore for balochistan exploration licenses

Mari Energies Limited (PSX:MARI) has disclosed a joint venture arrangement involving its wholly owned subsidiary, Mari Minerals (Private) Limited, and Globacore Minerals Limited for mineral exploration in Balochistan.

Under the agreement, the partnership relates to exploration licenses EL-322 and EL-323, located in district Chagai, according to the company’s statement issued today.

The transaction is subject to the completion of required corporate, regulatory, and governmental approvals.

As part of the arrangement, Mari Minerals will transfer a 49% working interest in the two exploration licenses to Globacore Minerals.

Despite the transfer, Mari Minerals will retain its role as the operator of the licenses and will continue to carry out exploration activities.