KABIL

On 1^st August, a joint venture company namely Khanij Bidesh India Ltd. (KABIL) was set up with the participation of three CPSUs namely, National Aluminium Company Ltd. (NALCO), Hindustan Copper Ltd. (HCL) and Mineral Exploration Company Ltd. (MECL). The equity participation between NALCO, HCL and MECL is in the ratio of 40:30:30.

• Its objective is to ensure a consistent supply of critical and strategic minerals to Indian domestic market.

Features

• 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. It will secure availability of 12 critical and strategic minerals from overseas through mineral acquisition. It has shortlisted Lithium & Cobalt, the two minerals available abundantly in Australia, as the most critical & strategic minerals.
• The sourcing of these minerals or metals is to be done by creating trading opportunities, Government to Government (G2G) collaborations with the producing countries or strategic acquisitions or investments in the exploration and mining assets of these minerals in the source countries.

Need

• The sustained source of mineral and metal commodities is imperative for the transportation and manufacturing segment.
• Electric vehicles, segments like Aviation, Defence and Space Research require minerals with lower weight and high mechanical strength.

Significance

• KABIL would ensure mineral security of the nation; it would also help in realizing the overall objective of import substitution.
• It will help in building partnerships with other mineral rich countries like Australia and those in Africa and South America.