New Delhi: Secretary, Ministry of Mines, V L Kantha Rao, inaugurated the Registered Office of Khanij Bidesh India Ltd (KABIL) at Sansad Marg, New Delhi, in the presence of senior officials from the Ministry and KABIL.
KABIL, a Joint Venture Company formed by NALCO, HCL, and MECL, the CPSEs under the Ministry of Mines, embarks on a significant mission of identifying, exploring, acquiring, and developing critical and strategic mineral assets overseas.
During his inaugural address, Secretary Mines highlighted the significance of KABIL’s presence in Delhi, signifying a new chapter in concerted efforts towards ensuring India’s mineral security. With a resolute commitment to excellence, KABIL is poised to play a pivotal role in driving India’s growth and self-sufficiency in critical and strategic minerals, aligning with the objectives of “Make in India” and “Viksit Bharat,” and India’s aspiration to achieve the Net Zero Emission Goal.
A crucial milestone in KABIL’s journey was the signing of an Exploration and Development Agreement with CAMYEN on January 15, 2024. This landmark agreement granted KABIL exclusive exploration rights for five lithium blocks in Argentina, marking a significant stride towards securing a stable supply of lithium. Lithium is a vital component in battery production, essential for various industries, including electric vehicles.
Additionally, India has forged collaboration with Australia, the leading producer of Lithium (accounting for approximately 47% of the world’s production) and Cobalt (constituting about 3% of the world’s production and ranked 4th largest producer). This collaboration is facilitated by Government-to-Government (G2G) Memorandum of Understanding (MoU) between the Ministry of Mines and DSIR, and Business-to-Business (B2B) MoU between KABIL and CMO. Under this collaboration, feasibility studies are underway for five Lithium and Cobalt projects, further strengthening India’s strategic mineral reserves.
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