PPL inks joint venture agreement with FWO in the mining sector

ISLAMABAD: Pakistan Petroleum Limited (PPL) has signed a Joint Venture Agreement with Degan Exploration Works (DEW), a wholly owned subsidiary of Frontier Works Organization (FWO), to explore and develop mineral resources in the EL-207 Block located in District Chagai, Balochistan. This initiative is a key component of PPL’s strategy to diversify into the mining sector and strengthen its presence in Balochistan, says a Press release.
The agreement was signed by GME&CBD PPL Arshad Pakekar and Qaiser Rafique, representative of DEW, and witnessed by MD & CEO PPL, Imran Abbasy, and DG FWO Major General Abdul Sami in Islamabad, Friday. The signing ceremony was attended by key stakeholders and company officials.
Previously, PPL had entered a Memorandum of Understanding (MoU) with FWO to foster strategic cooperation on the EL-207 Project. The block is believed to have significant potential for porphyry-type deposits, including copper and gold.
This agreement lays the foundation for a long-term partnership, offering strategic advantages within the mineral-rich Chagai metallogenic belt and is poised to transform the mining landscape in Balochistan.