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Fatima Fertilizer Company Limited has disclosed a key material development to the Pakistan Stock Exchange, confirming that Globacore Minerals Limited where Fatima Fertilizer holds a 32% equity stake has entered into a joint venture with Mari Minerals (Private) Limited for mineral exploration projects in Balochistan, marking a strategic step toward portfolio diversification and long-term value creation.
In a formal notice dated December 22, 2025, submitted to the Pakistan Stock Exchange and the Securities and Exchange Commission of Pakistan, Fatima Fertilizer informed investors that Globacore Minerals Limited has signed a Joint Venture Agreement with Mari Minerals (Private) Limited, a wholly owned subsidiary of Mari Energies Limited.
Under the agreement, Mari Minerals has agreed to transfer a 49% working interest in its mineral exploration licenses EL-322 and EL-323, located in Chagai district of Balochistan, to Globacore. The transaction remains subject to the completion of requisite corporate, regulatory, and governmental approvals.
According to the disclosure, Mari Minerals will continue to serve as the operator of the licenses and will remain responsible for conducting all exploration activities. The arrangement allows Globacore to gain exposure to mineral exploration while relying on Mari Minerals’ operational expertise.
Fatima Fertilizer stated that, as a shareholder in Globacore, it views the joint venture as a positive development that supports diversification and strengthens prospects for sustainable long-term returns. The company also confirmed it will keep shareholders informed of any further material developments in line with applicable laws and Pakistan Stock Exchange regulations.
The information was shared in compliance with Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1 of the Pakistan Stock Exchange Rule Book. The notice was signed by Anil Zia, Deputy Company Secretary of Fatima Fertilizer Company Limited.
