Khanij Bidesh India Ltd

  • Category
    Economy
  • Published
    13th Aug, 2019

Context

Ministry of Mines is setting up a joint venture company namely Khanij Bidesh India Ltd. (KABIL)

About

  • It will be set up with the participation of three Central Public Sector Enterprises namely,
    • National Aluminium Company Ltd.(NALCO)
    • Hindustan Copper Ltd.(HCL)
    • Mineral Exploration Company Ltd. (MECL)
  • It would carry out identification, acquisition, exploration, development, mining and processing of strategic minerals overseas for commercial use and meeting country’s requirement of these minerals.
  • The equity participation between NALCO, HCL and MECL is in the ratio of 40:30:30

Significance

  • It is a move to ensure a consistent supply of critical and strategic minerals to Indian domestic market.
  • In other words, it will ensure mineral security of the Nation.
  • It will help in building partnerships with other mineral rich countries like Australia and those in Africa
  • It would also help in realizing the overall objective of import substitution.
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