KABIL Set up to Ensure Supply of Critical Minerals 05/08/2019 – Posted in: Press Information Bureau – Tags: Hindustan Copper Ltd., Mineral Exploration Company Ltd., National Aluminium Company Ltd.
Khanij Bidesh India Limited (KABIL)
(Ministry of Mines)
WHAT
A joint venture company, named, Khanij Bidesh India Limited (KABIL) is to be set up with the participation of three Central Public Sector Enterprises.
- National Aluminium Company Ltd.(NALCO)
- Hindustan Copper Ltd.(HCL)
- Mineral Exploration Company Ltd. (MECL).
The equity participation between NALCO, HCL and MECL is in the ratio of 40:30:30.
OBJECTIVES
- To ensure a consistent supply of critical and strategic minerals to the Indian domestic market.
- The company will ensure the supply of Lithium and Cobalt which is available in less quantity in the country.
- It would also help in realizing the overall objective of import substitution.
HIGHLIGHTS
- The KABIL would carry out identification, acquisition, exploration, development, mining, and processing of strategic minerals overseas for commercial use and meeting country’s requirement of these minerals.
- The new company will help in building partnerships with other mineral-rich countries.
- The sourcing of these minerals or metals is to done by creating
- Trading opportunities
- Government-to-government collaborations with the producing countries
- Strategic acquisitions or investments in the exploration and mining assets of these minerals in the source countries.
Source: PIB
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