MARI plans Rs2.5bn mining investment

KARACHI: Mari Petroleum Company Limited (MARI) has approved an investment of up to Rs2.5 billion in its subsidiary Mari Mining Company (Pvt) Ltd (MMC), the company said on Monday.

“The investment will be made by MARI in tranches spread over two years by subscribing to the right issue of MMC shares,” MARI said in a notice to the Pakistan Stock Exchange (PSX).MARI, one of Pakistan's largest energy and exploration companies, is principally engaged in the exploration, production, and sale of hydrocarbons.

MMC, a wholly-owned subsidiary of MARI, was established in July 2023 to undertake mineral mining projects in Pakistan and contribute to the growth of the country's mineral mining sector.