Union Government sets up KABIL to ensure supply of critical Minerals
The joint venture company namely Khanij Bidesh India Ltd. (KABIL) has been set up with the participation of three Central Public Sector Enterprises (CPSEs) to ensure a consistent supply of critical and strategic minerals to Indian domestic market. These CPSEs are National Aluminium Company Ltd. (NALCO), Hindustan Copper Ltd. (HCL) and Mineral Exploration Company Ltd. (MECL). The newly setup company will ensure supply of Lithium and Cobalt which is available in less quantity in the country. It will help in building partnerships with other mineral rich countries like Australia and those in 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.