- Govt urges PSUs to fast-track critical mineral acquisitions
- KABIL already engaged in lithium exploration in Catamarca
NLC India Limited (NLC India) has signed a memorandum of understanding (MoU) with Khanij Bidesh India Limited (KABIL) to collaborate in the identification, acquisition, and development of critical and strategic mineral projects on a global scale, according to a stock exchange filing by NLC India. The company, headquartered in Neyveli, Tamil Nadu, engages in lignite mining and power generation and posted an operating revenue of INR15,282 in FY’25.
NLC India is pursuing opportunities in the critical minerals and rare earth elements (REE) sector within India and internationally, the filing stated.
KABIL is a joint venture company incorporated in 2019 between three government enterprises — National Aluminium Company Ltd (NALCO), Hindustan Copper Limited (HCL), and Mineral Exploration and Consultancy Limited (MECL) — under the aegis of the Union Ministry of Mines. The company aims to ensure supply-side assurance of critical and strategic minerals and India’s mineral security. It was set up to identify and source battery minerals such as lithium and cobalt, for which it has begun engagement with companies in Australia and Argentina.
For example, KABIL had entered into an agreement with the state-owned enterprise of Catamarca in Argentina, Catamarca Minera Y Energetica Sociedad Del Estado, in early 2024 for the exploration and exclusivity rights for five adjacent lithium brine blocks in Catamarca.
“Public sector enterprises are encouraged by the GoI for acquiring critical minerals assets, focusing on both domestic and international acquisitions, along with a distinct timeline,” according to the NLC India filing on Friday.
In late August, BigMint had reported that Coal India Limited signed an MoU with the mineral resources department and the State mining corporation of the Madhya Pradesh government for the exploration and development of critical minerals in the state.
Leave a Reply