Tuesday, June 15, 2021

BMEC receives JV proposal from NRL to develop Rekodiq, Tanjeel reserves

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Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com
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Balochistan Mineral Exploration Company (BMEC), a joint venture of the Government of Balochistan (90%) and the Government of Pakistan (10%) and the concession holder of EL199 (consisting of Rekodiq & Tanjeel reserves) – has received a proposal from the National Resources Private Limited (NRL) on unsolicited basis to develop and implement the Tanjeel reserves as a starter project, followed by development of the vast Rekodiq area reserves. NRL is a domestic joint venture company of Arif Habib Equity (Private) Limited, Mari Petroleum Company Limited, Liberty Mills Limited, Reliance Commodities (Private) Limited (Fatima group), Y.B. Pakistan Limited (Lucky group) and South Western Mining (Private) Limited.

In an introductory presentation to the BMEC Board, NRL summarily highlighted the salient features of the submitted proposal. Shamsuddin A. Shaikh, Chief Executive Officer of NRL commented, “The province of Balochistan has a significant role to play in the development of Pakistan and its economy. Through development of Tanjeel and Rekodiq under Public Private Partnership, NRL is hopeful that it can usher in a new era for the progress of this region through this initiative.” He further stated that “The project will have a complete social uplift package associated with it for the entire area, in addition to the development of the mineral cadaster to aid the development of the mining sector.”He also requested the BMEC Board to permit NRL to carry out further investigations of the mineral resources and the energy and water resources, which would be required for the expeditious development of the proposed project.

Hafiz Abdul Basit, Additional Chief Secretary (Development) Balochistan /Chairman BMEC Board appreciated the initiative and assured representatives of NRL that the matter will be reviewed by the Transaction Advisor (already hired by the company) and dealt with in accordance with the laws, in the best interest of the province and the country.

NBFI

BMEC is committed to its role as a catalyst towards the prosperity of Balochistan and Pakistan and deems it as its responsibility to take measures that benefit the people of its Country.

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