Mari Energies Limited (MARI) is stepping up its push to attract global investment into Pakistan’s mineral sector, revealing active engagement with mining heavyweights Rio Tinto and BHP as part of its broader diversification strategy.
The development was disclosed during MARI’s latest analyst briefing, where management confirmed ongoing discussions with the two global mining giants to help monetize Pakistan’s vast mineral resources.
The company views the upcoming financial close of the Reko Diq project as a key catalyst for unlocking greater foreign investment in the country’s mining industry.
MARI, traditionally a leader in oil and gas exploration and production, is now making significant moves in mining through its subsidiary, Mari Minerals.
The company currently operates three licenses in Chagai and holds various joint venture stakes, including a 5% interest in Koh-e-Sultan Mining Co.
Geological surveys are underway in partnership with foreign operators, further signaling MARI’s commitment to expanding its footprint beyond hydrocarbons. Beyond mining, MARI is also investing in technology through its wholly owned subsidiary, Mari Technologies, which holds a 60% stake in SKY47.
The focus here is on cloud computing, data infrastructure, and digital services. Notably, a 5MW facility in Islamabad is nearing completion, with construction already underway in Karachi.
On the financial side, MARI reported a profit after tax of Rs. 65.4 billion for FY25, down from Rs. 77.3 billion the previous year.
The decline was attributed to lower revenues and higher expenses, driven in part by curtailments on SNGPL’s transmission network and softer wellhead prices.
Despite the dip in profits, MARI’s management remains optimistic, highlighting ongoing exploration, new well development, and a strong push into both mining and technology as key drivers for future growth.