Karachi: Fatima Fertilizer Company Limited has announced a significant copper-gold discovery through its joint venture company, National Resources (Private) Limited (NRL), in District Chagai, Balochistan. The announcement, made on April 8, 2025, disclosed material information under Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1 of the Pakistan Stock Exchange Limited's Rule Book.
NRL, in which Fatima Fertilizer holds a 33.33% equity stake, reported the discovery at its exploration lease granted in October 2023. The company has identified multiple prospects, with the "Tang Kaur" site advancing to an advanced drilling stage. The drilling encompasses 13 diamond drill holes totaling 3,517 meters. Initial results from the first six holes, covering 1,500 meters, revealed mineralized zones ranging from 48 to 148 meters. The intercepts display copper grades between 0.23% and 0.48%, gold between 0.09 and 0.14 grams per ton, and silver between 1.30 and 6.21 grams per ton, resulting in a copper equivalent of 0.28% to 0.56%.
According to information available from the Pakistan Stock Exchange (PSX), further advanced drilling at Tang Kaur is scheduled for May 2025, with an NI 43-101 Technical Report expected by the end of the year. This will lead to 3-4 years of extensive exploration, culminating in feasibility studies, while exploration continues on other prospects within the lease.
Additionally, NRL has acquired a lead-zinc exploration lease adjacent to a well-known deposit where a Bankable Feasibility Study has been conducted. The firm is evaluating a comprehensive metal value chain to determine the feasibility of downstream processing.
The company views indigenous populations as vital stakeholders and is committed to social development initiatives, including clean water, education, healthcare, and local employment. The employment rate for locals stands above 90%. NRL also collaborates with academic institutions and emphasizes sustainability.
NRL is in discussions with the Government of Balochistan and the Special Investment Facilitation Council (SIFC) to secure two additional Copper-Gold exploration licenses, supported by a $100 million exploration fund. Plans are in place to attract further local and international investors. An MOU has been signed with Oil and Gas Development Company (OGDC) to collaborate on newly acquired leases.
Fatima Fertilizer Company Limited sees these developments as a strategic move to diversify its portfolio and create long-term value for its stakeholders. Shareholders have been informed that the discovery and related activities are in preliminary stages, with further studies required to evaluate the economic and commercial viability of the mineralization. The company will continue to provide updates as progress is made.