KARACHI: Pakistan Petroleum Limited (PPL) has secured conditional approval from the Balochistan government to obtain an exploration licence for precious and base metals in the mineral-rich district of Chagai. The development marks a strategic move by the state-owned energy firm to diversify its core portfolio beyond hydrocarbons and expand into the country’s growing minerals sector.

According to a disclosure submitted to the Pakistan Stock Exchange, the conditional approval pertains to licence EL-331, covering targeted exploration of copper, gold, and other high-value associated minerals in Chagai. The region is part of the globally recognized Chagai Metallogenic Belt, home to significant deposits including those found in the Reko Diq and Saindak projects. The company stated that the licence will be finalized upon completion of legal, procedural, and regulatory requirements.

PPL emphasized that entering the mineral exploration domain aligns with its long-term sustainability plan. With global energy markets shifting and hydrocarbon reserves maturing, the company aims to expand revenue streams and strengthen its resource footprint. Industry analysts say the move could prove timely as demand for metals used in energy transition technologies continues to surge worldwide.

The company earlier formed a joint venture with Degan Exploration Works to evaluate mineral prospects in the region, signaling growing institutional interest in unlocking Balochistan’s resource potential. PPL already plays a central role in Pakistan’s energy landscape, operating the Sui gas field and holding stakes in numerous onshore and offshore exploration blocks.

Additionally, the company recently signed a farm-out agreement with Türkiye’s Petroleum Overseas Company to jointly develop offshore Block Indus C, further broadening its exploration horizons. The collaboration aims to deepen Pakistan-Türkiye cooperation in the energy sector and boost offshore activity.

With the Chagai approval, PPL is positioned to become a multidimensional resource development company, contributing to both national energy security and mineral economy growth.