Source: TOI
Subject: Economy
Context: State-owned Khanij Bidesh India Limited (KABIL) has received environmental clearance from the Argentine government to begin deep exploration of five brine lithium blocks in Catamarca province.
About Khanij Bidesh India Limited (KABIL):
What it is?
- KABIL is a Joint Venture Company (JVC) formed by three Indian Government Enterprises: National Aluminium Company Ltd. (NALCO), Hindustan Copper Limited (HCL), and Mineral Exploration & Consultancy Limited (MECL).
- It operates under the aegis of the Ministry of Mines with an authorized capital of ₹500 crore.
Established in: The company was incorporated on August 8, 2019, following a Joint Venture Cum Shareholders’ Agreement signed in New Delhi.
Aim:
- To ensure supply-side assurance and mineral security for India regarding critical and strategic minerals.
- To make India self-reliant in strategic minerals, supporting the Make in India initiative.
- To identify, explore, acquire, and develop mineral assets in overseas countries to fulfill domestic industrial needs.
Key Functions:
- Overseas Acquisition: Actively identifying and pursuing the acquisition of mineral assets abroad, particularly in countries like Argentina, Australia, Brazil, and Canada.
- Exploration and Development: Conducting deep exploration, including drilling boreholes and surveys, to ascertain the availability of critical minerals like Lithium and Cobalt.
- Strategic Sourcing: Establishing agreements with foreign state-owned enterprises to ensure a steady flow of raw materials back to India.
- R&D and Substitution: Engaging in research and development to find substitutes for critical minerals and improving resource efficiency and recycling.
- Downstream Integration: Working toward developing processing value chains for critical minerals to enhance the resilience of the domestic EV and storage battery sectors.
Significance of KABIL:
- KABIL addresses India’s meager resource base for 12 strategic minerals, including Lithium, Cobalt, Germanium, and Tungsten, which are vital for high-tech sectors.
- By securing lithium—a primary raw material for batteries—KABIL is instrumental in the transition toward electric vehicles and renewable energy storage.
