Kabil (khanij bidesh india limited)

Khanij Bidesh India (KABIL) (KABIL), a joint venture company will be set up soon to ensure a consistent supply of critical and strategic minerals to the Indian domestic market.

KABIL will be set up in joint partnership between three Central Public Sector Enterprises including National Aluminium Company Ltd.(NALCO), Hindustan Copper Ltd.(HCL) and Mineral Exploration Company Ltd (MECL). The equity participation between NALCO, HCL and MECL in the company is in the ratio of 40:30:30.

Background

KABIL’s main objective will be to ensure a consistent supply of critical minerals to the Indian domestic market and the mineral security of the Nation. The company would also help in realizing the overall objective of import substitution. KABIL is mandated to identify and acquire overseas mineral assets of critical and strategic nature such as Copper, Lithium, Cobalt etc.

Based on a commissioned study and selection criteria, select source countries have been shortlisted for exploring possibilities of mineral asset acquisition abroad. So far, the engagement of KABIL is underway with source countries like Australia, Argentina, Bolivia and Chile which are endowed with cited critical and strategic minerals.

Functioning

KABIL will be responsible in carrying out identification, acquisition, exploration, development, mining and processing of strategic minerals overseas for commercial use and meeting country’s requirement of these minerals. The sourcing of these minerals or metals is to done by creating trading opportunities, G2G (government to government) collaborations with the producing countries or strategic acquisitions or investments in the exploration and mining assets of these minerals in the source countries.

Finance

The JV would take shape of a new company, namely Khanij Bidesh India Ltd (KABIL), which will have an authorised and paid-up capital of Rs 100 crore and Rs 30 crore.