Fatima Group acquires 33.33% stake in National Resources, plans further investments

Fatima Group, one of the leading conglomerates in Pakistan, announced that it has acquired a 33.33% stake in National Resources (Private) Limited (NRL), an associated company engaged in the exploration of natural resources in Balochistan. 

The acquisition was made from Reliance Commodities (Private) Limited, another associated company of Fatima Group, for a total consideration of PKR 252.19 million.

The shareholders of Fatima Group approved the acquisition and authorised the company to make further investments in NRL, up to PKR 1 billion, over a period of two years. The investments may be in the form of loans, advances, or equity injections, depending on the feasibility and requirements of NRL’s operations and business.

NRL is a joint venture between Fatima Group and the Government of Balochistan, with the latter holding a 25% stake. NRL has been granted exploration licenses for various mineral resources, including coal, copper, gold, iron ore, and chromite, in different areas of Balochistan. NRL also holds shares in a project company that is developing a coal-fired power plant in the province.

The shareholders of Fatima Group also confirmed and adopted the minutes of the previous extraordinary general meetings held on September 22, 2023. They also empowered and authorised the management of the company to take all necessary steps to execute and implement the resolutions passed at the meeting.

Fatima Group is a diversified business group with interests in fertilizer, textile, sugar, energy, cement, and trading. The group has a strong presence in the domestic and international markets and is committed to creating value for its stakeholders and contributing to the socio-economic development of Pakistan.