Lucky Cement Limited (PSX: LUCK) plans to inject up to Rs1.2 billion in additional equity into its associated company, National Resources (Private) Limited (NRL), to advance copper and gold exploration activities in Balochistan.

The proposed investment was disclosed alongside Lucky Cement's financial results for the year ended June 30, 2026, following a meeting of its Board of Directors on August 7.

NRL is a joint venture engaged in mineral exploration and mining, in which Lucky Cement holds a 33.33% equity stake. The venture has recently identified significant copper and gold mineralisation within its licensed exploration area in Chagai, Balochistan, while exploration activities are also underway across four other licensed sites.

According to the company's regulatory filing, the additional equity injection will finance pre-feasibility activities, including physical geology work, exploratory drilling and mineral resource estimation.

The proposed investment remains subject to the required corporate and regulatory approvals, including shareholders' approval under Section 199 of the Companies Act, 2017, which will be sought at the company's upcoming Annual General Meeting.

The investment underscores Lucky Cement's continued exposure to Pakistan's mineral exploration sector through NRL as the joint venture progresses with the assessment and development of its copper and gold prospects.