Home Mining NALCO Joins KABIL

NALCO Joins KABIL


Bhubaneswar: National Aluminium Company Limited (NALCO has taken a lead in order to ensure mineral security of the nation and to attain self-reliance in the area of critical & strategic minerals.

Accordingly it has participated in the Joint Venture created by Ministry of Mines-Khanij Bidesh India Ltd (KABIL).

National Aluminium Company Ltd (NALCO), Hindustan Copper Ltd (HCL) and Mineral Exploration Corporation Ltd (MECL) have joined hands to form KABIL.

KABIL is mandated to identify and acquire overseas mineral assets of critical and strategic nature such as Lithium, Cobalt etc.

This initiative aimed at giving further fillip to Atma Nirbhar Bharat will cater to the requirements of crucial sectors such as e-mobility, renewable energy, medicine, aerospace, aviation 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, engagement of KABIL is under way with source countries like Australia, Argentina, Bolivia and Chile which are endowed with cited critical and strategic minerals.

The primary interface has been the respective Embassies and Missions of India in those countries for sharing of information primarily with state owned organizations for taking up due diligence and investment decisions with respect to prospective mineral acreages.

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