Team News Riveting
New Delhi, May 10
Secretary, Ministry of Mines V L Kantha Rao today inaugurated the Registered Office of Khanij Bidesh India Ltd(KABIL) at Sansad Marg, New Delhi in presence of Senior officials of Ministry & KABIL.
KABIL, a Joint Venture Company formed by NALCO, HCL and MECL, the CPSEs under the Ministry of Mines, is entrusted with the important mission of identifying, exploring, acquiring, and developing critical & strategic mineral assets overseas.
The Secretary Mines in his inaugural address mentioned that the inauguration of Office of KABIL at Delhi symbolizes a new era of concerted efforts towards ensuring the mineral security of India. With a steadfast commitment to excellence, KABIL is poised to play a crucial role in driving India’s growth and self-sufficiency in the realm of critical & strategic minerals aligning with the objectives of “Make in India” and “Viksit Bharat” and India achieving the Net Zero Emission Goal.
An instrumental step 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.
There is also collaboration of India with Australia who is the leading producer of Lithium ( about 47 per cent of the world- top producer) and Cobalt (about 3 per cent of World- 4th largest producer) by signing G2G MoU ( between Ministry of Mines and DSIR) and B2B MoU ( between KABIL and CMO). Five projects of Lithium and Cobalt have been selected where project feasibility is being carried out.
Opening of the Registered Office of KABIL in New Delhi is a big stride which will facilitate the efficient and fast functioning of KABIL for securing a consistent supply of essential minerals to meet India’s domestic requirements.
