Author name: Web Desk

Quetta/Islamabad, December 22, 2025 – Finnish mining technology leader Metso has clinched contracts valued at approximately €70 million to supply cutting-edge beneficiation and dewatering equipment for the Reko Diq copper-gold mine in Balochistan, Pakistan. The orders, awarded by Reko Diq Mining Company (RDMC), follow a €200 million frame agreement signed in August 2024 and mark a key milestone in the development of one of the world’s largest undeveloped copper-gold deposits. Read More: https://theboardroompk.com/pibt-and-reko-diq-sign-landmark-agreement-to-enable-multi-billion-dollar-mineral-exports-from-pakistan/ The equipment package includes a complete flotation flowsheet featuring Metso’s TankCell mechanical flotation cells for rougher and cleaner scavenger stages, combined with innovative Concorde Cell units for ultrafine particle processing in cleaner scalper and recleaner duties. This hybrid technology aims to enhance metallurgical efficiency while lowering capital and operating costs, ideal for Reko Diq’s low-grade, high-throughput ore body.Additional supplies comprise four Larox PF60 series concentrate filters with auxiliaries, durable slurry pumps, five HRT High Rate Thickeners equipped with Reactorwell technology for optimized performance, and a advanced mill reline machine with safety-focused Auto-Grapple functionality to service the project’s large Premier ball mills. The Concorde Cell will integrate with previously ordered HIGmill regrinding mills from 2024.Antti Rinne, Vice President of Flotation at Metso, highlighted the strategic fit: “Metso’s large TankCell technology remains the baseline for the rougher circuit, while the cleaner circuit is optimised with Concorde Cell technology to bring increased metallurgical efficiency at reduced capital and operating costs.”Owned 50% by Canada’s Barrick Gold Corporation and 50% by the governments of Pakistan and Balochistan, Reko Diq is poised to transform Pakistan’s economy. After resolving a prolonged dispute in 2022, the project targets first production by late 2028, with an initial phase processing capacity leading to substantial copper and gold output over a 37-40 year mine life. Analysts project billions in revenues, job creation, and foreign exchange earnings, bolstering Pakistan’s mining sector amid global demand for critical minerals.The €40 million portion was booked in Metso’s Q3 2025 orders, with €30 million in Q4. This deal underscores international confidence in Reko Diq, following earlier equipment awards and financing commitments from institutions like the IFC and US EXIM Bank.

Islamabad, December 22, 2025 – Globacore Minerals Limited has entered into a significant joint venture agreement with Mari Minerals (Private) Limited, a wholly-owned subsidiary of Mari Energies Limited (formerly Mari Petroleum Company Limited), to explore minerals in Pakistan’s resource-rich Chagai district, Balochistan.Under the terms of the agreement, announced via a notice to the Pakistan Stock Exchange (PSX) by Fatima Fertilizer Company Limited – which holds a 32% equity stake in Globacore – Mari Minerals will transfer 49% of its working interest in two mineral exploration licenses, EL-322 and EL-323, to Globacore. These licenses, covering approximately 501 square kilometers, were originally granted to Mari Minerals (formerly Mari Mining Company) in 2024 by the Directorate General Mines and Minerals Balochistan.Mari Minerals will retain operatorship of the licenses and continue to lead exploration activities, ensuring operational continuity. The transfer is subject to necessary corporate, regulatory, and governmental approvals Read More: https://theboardroompk.com/world-bank-groups-ifc-provides-60m-yearly-liquidity-to-fatima-fertilizer-to-ensure-steady-fertilizer-supply-for-pakistani-farmers-amid-fx-challenges/ The Chagai district is known for its substantial potential in copper, gold, and other precious minerals, aligning with Pakistan’s push to develop its mining sector amid global demand for critical resources. Mari Energies has been actively diversifying beyond hydrocarbons into minerals, with previous acquisitions and partnerships in the same region, including stakes in other Chagai licenses and projects like the Siahdiq Copper Project.Fatima Fertilizer, a major player in Pakistan’s fertilizer industry with production plants in Multan, Sheikhupura, and Sadiqabad, views the development positively. “As a shareholder of Globacore, [we] view this development as a positive step in diversifying its portfolio and generating long-term value for its stakeholders,” the company stated.This joint venture underscores growing private sector interest in Balochistan’s untapped mineral wealth, potentially contributing to economic growth, job creation, and foreign exchange earnings. Analysts see it as part of broader efforts to attract investment in the mining sector, which has historically faced challenges related to security and infrastructure.No financial details of the transaction, such as investment commitments or valuations, have been disclosed. The partnership could pave the way for advanced exploration and eventual mining operations if commercially viable deposits are confirmed.

Islamabad, December 22, 2025 – A escalating conflict between Pakistan’s Ministry of Energy (Power Division) and K-Electric (KE), the private utility serving Karachi, has emerged over the processing of Tariff Differential Subsidy (TDS) payments. The disagreement centers on whether subsidies should be calculated based on KE’s original tariff determinations or the revised ones issued by the National Electric Power Regulatory Authority (NEPRA). Read More: https://theboardroompk.com/nepra-sets-rs22-98-kwh-flat-rate-to-boost-industrial-agri-electricity-use/ The TDS mechanism allows the federal government to bridge the gap between the higher actual cost of electricity generation and distribution charged to KE and the uniform national tariff applied to consumers, ensuring Karachi residents pay rates comparable to those in other parts of the country served by state-owned distribution companies (Discos). Historically, this has involved billions in annual subsidies, with past allocations reaching hundreds of billions of rupees to maintain equity and prevent tariff shocks.The current standoff stems from NEPRA’s review determinations issued on October 20, 2025, which revised KE’s multi-year tariff (MYT) for FY 2024-2030. These revisions, aimed at promoting regulatory consistency and reducing inefficiencies—such as excessive loss allowances and foreign currency-linked returns—effectively lowered KE’s allowable tariff by approximately Rs7.6 per unit in some components. The Power Division insists that TDS payments must align with these revised determinations to reflect the updated regulatory framework.However, KE has challenged the NEPRA revisions through constitutional petitions in the Sindh High Court (SHC). On November 4, 2025, the SHC issued interim orders prohibiting any coercive action to enforce the review tariffs, which KE interprets as a restraining order. In intense correspondence, KE’s CEO Moonis Alvi has argued that provisional TDS claims must be processed using the original (pre-review) tariffs, citing Clause 2.1 of the TDS Agreement. This clause mandates the use of preceding tariffs when a court restraining order is in place.Alvi emphasized in recent letters that by refusing to process claims based on original tariffs, the Power Division is indirectly enforcing the revised ones, violating SHC orders. He warned that such actions could amount to contempt of court, referencing legal precedents like Fakhurl Arfin v. FOP (2015) and Saifur Rehman v. Muhammad Ayub (1998). KE’s legal counsel, Dr. Farogh Naseem, echoed this, suggesting a Power Division letter dated December 8, 2025, risks contempt proceedings.Additionally, KE asserts that under Clause 2.6 of the agreement, only it can prepare TDS balance reports, and unilateral revisions by the Ministry are void. Even the agent bank, Habib Bank Limited, is bound by SHC orders, KE argues, stating: “What cannot be done directly, cannot be done indirectly.”The Power Division, through Deputy Secretary Abdul Mateen, has maintained its position on using revised tariffs, leading to stalled payments. While specific disputed amounts for the current period are not publicly detailed, the broader context involves significant sums—past TDS claims for KE have run into hundreds of billions, with delays impacting the utility’s liquidity and contributing to circular debt issues in the power sector.This dispute highlights ongoing tensions in Pakistan’s power sector reforms, where efforts to standardize tariffs and curb inefficiencies clash with legal challenges from privatized entities like KE. Prolonged delays in subsidy releases could strain KE’s operations, potentially affecting power supply reliability in Karachi, home to over 20 million people and a major economic hub. It also underscores the fiscal burden on the government, which allocates substantial budgetary resources for TDS to maintain uniform national tariffs.Analysts note that similar disputes have recurred, including mediation efforts in prior years over historic receivables and payables. Resolution may depend on SHC proceedings or renewed negotiations, but the impasse risks exacerbating circular debt and deterring investments in the sector.