NRL Announces Discovery of Gold and Copper Reserves in Chagai, Balochistan

Islamabad:National Resources Limited (NRL) has announced the discovery of significant gold and copper reserves in the Chagai region of Balochistan. The announcement was made by NRL Chairman and Lucky Cement CEO, Mohammad Ali Tabba, during his speech at the Pakistan Minerals Investment Forum 2025, in the presence of Prime Minister Shehbaz Sharif and Chief of Army Staff General Asim Munir.

NRL, a 100% privately-owned Pakistani company, is a subsidiary of Fatima Fertilizer, Liberty Mills Limited, and Lucky Cement. The company was granted an exploration license in October 2023. In the last 18 months, NRL has identified 16 potential reserves in the 500-kilometer licensed area, with advanced drilling already underway at the Tang Kor location.

NRL has successfully completed 13 diamond drill holes (3517 meters), with all drill holes revealing mineral deposits. The initial six drill holes (1500 meters) confirmed the presence of strong mineral zones close to the surface. According to the results of the initial drilling, the copper content ranges from 0.23% to 0.48%, gold from 0.09 grams per ton to 0.14 grams per ton, and silver from 1.30 grams per ton to 6.21 grams per ton. These results are equivalent to copper reserves of 0.28% to 0.56%.

Advanced drilling at Tang Kor is scheduled for May 2025, with the expected completion of the NI 43-101 technical report by the end of the year. This report is already being supervised by international consultants. Following that, the company plans to conduct 3 to 4 years of detailed exploration and feasibility studies, while exploration activities will continue at other locations.

In addition, NRL has obtained an exploration license for lead-zinc near a well-known mineral mine, where a bankable feasibility study has already been completed. The company is also working on a comprehensive metal value chain study to assess downstream processing possibilities.

NRL considers the local community as key stakeholders and is actively supporting social development through initiatives such as providing clean water, education, healthcare, and local employment or business opportunities. Currently, more than 90% of local jobs are held by the local population.

The company is also working with the Government of Balochistan and the Special Investment Facilitation Council (SIFC) to secure an additional $100 million exploration fund for two additional copper-gold exploration licenses in Chagai, Balochistan. Furthermore, NRL has signed a memorandum of understanding (MoU) with the Oil and Gas Development Company (OGDC) for working on new leases, with plans to involve national and international investors in the project as needed.

NRL expressed its gratitude to the Government of Balochistan and SIFC for their support, reaffirming its commitment to advancing mineral development in the region, which will pave the way for further exploration efforts under Pakistan’s leadership. The company is confident that continued cooperation will encourage more domestic companies to enter the mining sector, ultimately benefiting the development of Balochistan and Pakistan.