KARACHI: Lucky Cement Limited, one of Pakistan’s largest cement producers, is set to invest up to Rs1.2 billion in its associated company, National Resources (Private) Limited (NRL), to advance copper and gold exploration in Chagai, Balochistan.
In a notice to the Pakistan Stock Exchange (PSX) on Monday, the company said its Board of Directors has approved further equity investment in NRL through subscription of shares and the purchase of 250 ordinary shares from Muhammad Ali Tabba, a related party. The funds will support pre-feasibility work, including geological studies, drilling, and mineral resource estimation.
The investment is subject to corporate and regulatory clearances, including shareholder approval under Section 199 of the Companies Act, 2017. NRL, in which Lucky Cement holds a 33.33% stake, was established to explore and mine metals, primarily copper and gold. In April, the company announced a significant copper-gold mineralisation discovery in the region, where it was awarded a mining lease in October 2023.
On the financial front, Lucky Cement posted consolidated gross revenue of Rs559.2 billion for FY25, up 14.3% from last year, with net profit rising 19.1% to Rs84.5 billion, driven by strong performances in its cement, automotive, and industrial operations.
