Five leading business conglomerates — Lake City Holdings, Fatima Group, Deen Group, Hilton Group, and Surti Group — have announced investments totalling billions of dollars in Balochistan.

The market value of these business groups is $5 billion, according to a report in Business Recorder.

The announcement follows Mari Energies Limited’s disclosure that its wholly owned subsidiary, Mari Minerals (Private) Limited, has signed a joint venture agreement with Globacore Minerals Limited to carry out mineral exploration projects in the province.

At a recent ceremony, former federal minister and business leader Gohar Ijaz highlighted that the commencement of mineral development would usher in an era of peace and progress, creating job opportunities and stimulating economic growth.

Mari Minerals, owned by Mari Energies, will partner with Globacore Minerals, which brings extensive expertise in exploring gold and copper deposits in Balochistan.

The joint venture will focus on the exploration of precious minerals in Chaghai.

Ijaz emphasised that Balochistan’s vast mineral wealth presents a significant opportunity for local companies and that such investments are expected to drive development, prosperity, and employment in the province.