Mari Energies Subsidiary to Acquire 5% Stake in Kohesultan Mining Company Ltd

Mari Minerals (Private) Limited (MariMinerals) will acquire a 5 percent stake in Kohesultan Mining Company (Private) Limited (KMCL).

“Mari Minerals (Private) Limited (MariMinerals) (formerly, Mari Mining Company (Pvt) Limited), a wholly owned subsidiary of Mari Energies Limited (PSX: MARI), has entered into a definitive agreement, subject to requisite regulatory approvals, to acquire a 5% interest in Kohesultan Mining Company (Private) Limited (KMCL) from Siahkoh Mining Development (SMC-Private) Limited (SMD),” MARI said in a stock filing on Wednesday.

KMCL is a joint venture between SMD and MCC Tongsin Resources Ltd (MCCT), and is managing the Siahdiq Copper Project in Chagai, Balochistan.

“This acquisition aligns with our strategic objectives, marking a key step in MariEnergies’ broader efforts to diversify into near-core sectors and contribute towards the enhancement of the growth and sustainability of Pakistan’s mineral sector,” the filing added.