Mari Energies acquires 25% stakes in two Chaghi exploration blocks

Mari Energies, through its wholly owned subsidiary, Mari Minerals (Private) Limited, has signed a deal to acquire approximately a 25% interest in two mineral licenses in Balochistan, a statement said on Friday.

Mari Minerals has entered into a joint venture agreement with Abu Dhabi-based IRH Mining, Balochistan Mineral Resources Limited, and the Government of Balochistan for the acquisition of a 25% (less one share) interest in two mineral exploration licenses, EL302 and EL303, located in Chagai, Balochistan.

The signing ceremony was witnessed by the Prime Minister of Pakistan, Muhammad Shehbaz Sharif, and the Crown Prince of Abu Dhabi, H.H. Sheikh Khaled bin Mohamed bin Zayed, on the sidelines of their meeting held on February 27.

This joint venture is expected to bring substantial foreign direct investment into the country’s mineral sector, enhancing its global competitiveness.

Ali Al Rashdi, CEO of International Resources Holding, remarked on Pakistan’s immense mineral potential:

“This joint venture underscores our long-term commitment to investing in high-impact projects that drive sustainable economic growth, attract foreign investment, and create lasting value for local communities. We look forward to collaborating closely with our partners to ensure the success of this partnership and to strengthen the strategic economic ties between the UAE and Pakistan.”

The UAE has been a key investor in Pakistan, significantly contributing to the country’s economic recovery. The Crown Prince’s visit underscores the UAE’s continued commitment to strengthening economic relations, particularly in critical sectors like mining.

Mari Energies remains dedicated to fostering sustainable growth and creating long-term value for its stakeholders while supporting Pakistan's resource development.

This joint venture is expected to positively impact the local economy and communities in Balochistan, aligning with the company’s broader goals of building a diversified and sustainable energy and mineral portfolio.