India is fast-tracking its critical minerals strategy through a multi-pronged approach, focusing on uranium tie-ups, lithium acquisitions, and copper-cobalt exploration in Africa. Backed by a war chest of over ₹4,500 crore, the Centre plans to fund overseas acquisitions and establish emergency stockpiles to secure mineral supplies critical for energy transition and digital growth.
Strategic Partnerships with Global Players
Khanij Bidesh India Ltd (KABIL) – a state-run JV tasked with acquiring critical mineral assets abroad—has forged alliances with International Resources Holding RSC Ltd. (IRH) of the UAE and Uranium One Group, a subsidiary of Russia’s state-owned Rosatom. The partnerships strengthen India’s position in uranium and rare-earth supply chains, areas crucial for de-risking strategic resources.
Domestic PSUs Join the Global Push
KABIL is also deepening collaboration with Indian PSUs, including ONGC Videsh Ltd (OVL), Oil India Ltd (OIL), and NLC India Ltd (NLCIL). This consortium approach combines domestic financial strength with international expertise to mount competitive bids for overseas mining assets.
Legal and Financial Backing for Overseas Acquisitions
Recent amendments to the MMDR Act allow National Mineral Exploration Trust (NMET) funds to be used for acquiring assets abroad. The government plans to increase the NMET corpus to ₹8,700 crore under the National Critical Mineral Mission, with ₹4,000 crore earmarked for incentivizing mining projects and evacuation infrastructure.
Lithium Hunt in Argentina Gains Momentum
Following KABIL’s entry into Argentina’s lithium triangle, non-invasive exploration of three lithium brine assets has been completed. Detailed drilling-led exploration will begin soon, followed by pre-feasibility and feasibility studies. Metallurgical testing and engineering evaluations will run in parallel to speed up timelines. The Argentine model will serve as a template for similar acquisitions in Australia, where due diligence is already underway.
Expanding Footprint in Africa and Beyond
Africa has emerged as a major focus area. Zambia has offered India nearly 9,000 sq km for geological mapping. The Geological Survey of India (GSI) and Mineral Exploration Corporation Ltd (MECL) completed a reconnaissance survey in June 2025, paving the way for copper-cobalt asset acquisitions. Both minerals play a critical role in EV batteries and renewable energy ecosystems.
Building a National Critical Minerals Stockpile
The government plans to deploy ₹500 crore to create a National Critical Minerals Stockpile Programme. The initiative is designed to mitigate supply shocks and ensure mineral availability for domestic industries. Guidelines for the stockpile are under preparation, the Minister confirmed.
Strategic Shield for Green Growth
The National Critical Mineral Mission aims to act as a strategic shield to safeguard India’s green energy and digital growth ambitions from global supply disruptions. As reported by hindubusinessline.com, India is combining overseas acquisitions, joint ventures, and stockpile reserves. This strategy is positioning the country as a resilient player in the global critical minerals race.
