The mining lease is for a 66.1 square kilometers of block VI of the Thar coalfield for coal mining.
The lease extends for 30 years and may be renewed for a further 30-year period.
Oracle CEO Shahrukh Khan said this is a significant step for the company as it moves towards in becoming a major coal producer in Pakistan.
"The Company continues to achieve its objectives and today’s news builds on our recent technical feasibility study which showed that, in Phase 1 of our mining area, we have proven JORC coal reserves of 113 million wet tonnes from the JORC Mineral Resource of 529 million wet tonnes," Khan added.
Oracle Coalfields is the coal developer of a lignite mineral property in the south-eastern part of Sindh Province, Pakistan.
