The Minister of Coal, Mines and Parliamentary Affairs Shri Pralhad Joshi urges that the main objective of setting up KABIL is to ensure a consistent supply of critical and strategic minerals to Indian domestic market. For the transportation and manufacturing segment, the sustained source of mineral and metal commodities is indispensable
KRC TIMES Desk
Khanij Bidesh India Ltd. (KABIL) is a joint venture company to be set up with the participation of three Central Public Sector Enterprises namely, National Aluminium Company Ltd.(NALCO), Hindustan Copper Ltd.(HCL) and Mineral Exploration Company Ltd. (MECL).
This joint venture was signed in the presence of Shri Pralhad Joshi, Hon’ble Minister of Mines, Coal and Parliamentary Affairs. Shri Anil Mukim Secretary (Mines) and other senior officers were also present.
The Minister of Coal, Mines, and Parliamentary Affairs Shri Pralhad Joshi urges that the main objective of Setting up KABIL is to ensure a consistent supply of critical and strategic minerals to the Indian domestic market. For the transportation and manufacturing segment, the sustained source of mineral and metal commodities is indispensable.
At the UN Climate Change Conference, Pairs, 2015, India had pledged to reduce greenhouse gas emissions and opted for a greener mode of transportation, Joshi said that as Prime Minister Narendra Modi has been emphasizing Electric Vehicle Mobility, energy storage through batteries should be encouraged. Among such twelve minerals identified as strategic minerals, which have meagre resource base, Lithium Cobalt is significant.
To meet the country’s requirement of strategic minerals, KABIL would carry out identification, acquisition, exploration, development, mining, and processing of these minerals overseas.
The sourcing of these minerals or metals is too done by creating trading opportunities, G2G collaborations with the producing countries or strategic acquisitions or investments in the exploration and mining assets of these minerals in the source countries
KABIL will help in building healthy relationships with other mineral-rich countries like Africa and South America where Indian expertise in exploration and mineral processing will be mutually beneficial bringing about new economic opportunities.
The equity participation between NALCO, HCL, and MECL is in the ratio of 40:30:30
The joint venture agreement was signed in the presence of Shri Pralhad Joshi, Hon’ble Minister of Mines, Coal and Parliamentary Affairs. Shri Anil Mukim Secretary (Mines) and other senior officers were also present.
