In a significant move towards bolstering India’s mineral security initiatives, Secretary of Mines, Shri V L Kantha Rao, inaugurated the Registered Office of Khanij Bidesh India Ltd (KABIL) today on Sansad Marg, New Delhi. Present at the event were senior officials from both the Ministry of Mines and KABIL.
KABIL, a Joint Venture Company formed by NALCO, HCL, and MECL, under the Ministry of Mines, is tasked with the vital mission of identifying, exploring, acquiring, and developing critical and strategic mineral assets overseas.
During his inaugural address, the Secretary Mines emphasised that the establishment of KABIL’s office in Delhi signifies a new era of concerted efforts towards ensuring India’s mineral security. With a firm 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,” alongside India’s pursuit of the Net Zero Emission Goal.
A significant milestone in KABIL’s journey was the signing of an Exploration and Development Agreement with CAMYEN on January 15, 2024. This agreement granted KABIL exclusive exploration rights for five lithium blocks in Argentina, marking a significant stride towards securing a stable supply of lithium, a key component in the production of batteries essential for various industries, including electric vehicles.
Furthermore, India’s collaboration with Australia, the leading producer of lithium and cobalt globally, has been strengthened through Government-to-Government (G2G) and Business-to-Business (B2B) Memorandums of Understanding (MoUs). Five projects of lithium and cobalt have been selected, with feasibility studies currently underway.
The inauguration of KABIL’s Registered Office in New Delhi marks a significant advancement, facilitating efficient and rapid operations aimed at securing a consistent supply of essential minerals to meet India’s domestic requirements.