According to foreign media reports, on May 8, Bolan mining enterprises (BME), a joint venture between Balochistan provincial government and Pakistan Petroleum Company Limited (PPL), sold a second batch of 20000 tons of iron ore. BME said that BME began to mine iron ore from Pachinko mine in chagai District, with estimated annual production of 2.22 million tons and 3.23 million tons respectively in chigendik and Pachinko mine areas of chagai.
On June 1, 1974, Pakistan Balochistan provincial government and Pakistan Petroleum Company Limited (PPL) signed a 30-year joint venture agreement to establish BME to mine and sell ore products near Khuzdar. The agreement was renewed for 30 years in June 2004 and is valid until 2033. Each company has a 50% stake in the joint venture. BME has two mining licenses in the northwest of NOK kundi, which are valid until 2026, for mining iron ore.
Ppl chief executive Moin Raza Khan said the company is turning its attention to the mining industry and plans to start exporting zinc and lead from next year. Because of the current shortage of oil and gas resources, the decision must diversify the development of minerals. "
