KABIL looking for 6 offshore critical mineral mines for acquisition

New Delhi, Jul 9 (PTI) Khanij Bidesh India Ltd (KABIL) is looking for six offshore mines of critical minerals for acquisition to meet the growing need in the country, according to an official.

An initiative of the Ministry of Mines, KABIL is mandated to identify and acquire overseas mineral assets of critical and strategic nature.

“KABIL is looking for some mines of critical minerals in other countries. Three (mines) in Argentina, two in Australia and one in Chile,” the official at the ministry said.

The acquisition will help the country meet its growing need for critical minerals that are high in cost.

The ministry has prepared a list of critical minerals for India to ensure reduced import dependencies, enhance supply chain resilience and support the country’s net zero objectives.

The objective of the recently released list is to identify and prioritise minerals that are essential for various industrial sectors such as high-tech electronics, telecommunications, defence, agriculture, energy and pharmaceutical.

The list includes minerals like lithium, cobalt, nickel, vanadium and niobium.