Bolan Mining Enterprises
Bolan Mining Enterprises is a joint venture on equal basis between Pakistan Petroleum and the Government of Baluchistan (GoB). A grinding mill having a capacity of 50,000 tonnes per year was set up and has met almost 80% of the total barytes required by oil exportation companies operating in Pakistan. Bolan barytes are produced in accordance with the American Petroleum Institute specifications. BME has been authorized by API to use their official momogram on BME barytes.
During the financial year 2010-2011, the sales of barytes was 41,316 tonnes and BME earned a pre-tax profit of PKR 138.864 million from barytes project, Khuzdar as compared to PKR 148.800 million earned in 2009-2010. A sum of PKR 27.440 million appropriated towards reserves for development and expension and the company's net 50% share of the profit was PKR 55.712 million during the financial period 2010-2011.
Read more about this topic: Pakistan Petroleum
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