KABIL Set up to Ensure Supply of Critical Minerals 05/08/2019 – Posted in: Press Information Bureau – Tags: , ,

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.

  1. National Aluminium Company Ltd.(NALCO)
  2. Hindustan Copper Ltd.(HCL)
  3. 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
  1. Trading opportunities
  2. Government-to-government collaborations with the producing countries
  3. Strategic acquisitions or investments in the exploration and mining assets of these minerals in the source countries.

 

Source: PIB

Also, read more PIB Updates

 

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