Hub Power Holdings Limited (HPHL), a wholly-owned subsidiary of The Hub Power Company Limited, has entered into a joint venture agreement with Ark Metals (Private) Limited for the exploration and development of mineral mines in Pakistan.
The announcement was made on Monday through a notice in accordance with Sections 96 and 131 of the Securities Act, 2015, and Rule 5.6.1 of the PSX regulations.
“We hereby convey that Hub Power Holdings Limited (HPHL), a wholly owned subsidiary of The Hub Power Company Limited, has entered into a joint venture agreement with a mining company, Ark Metals (Private) Limited and its shareholders, for exploration and development of mineral mines in Pakistan,” read the notice.
The joint venture aims to capitalize on the mineral resources in the country, with both parties working together on the exploration and eventual development of these mines.
However, the consummation of this joint venture agreement is subject to the necessary regulatory approvals and consents.
