Khanij Bidesh India Ltd. (KABIL) and Oil India Ltd. (OIL) entered into a memorandum of understanding (MoU). KABIL, a joint venture among three government entities – NALCO (National Aluminium Company), Hindustan Copper Ltd., and Mineral Exploration and Consultancy Ltd. – operates under the ministry of mines and focuses on developing mineral assets internationally.
The MoU was signed to explore international critical mineral opportunities, conduct thorough due diligence in identifying and leveraging critical mineral prospects, and to co-invest in relevant projects, as stated in the press release.
The agreement with Oil India is aimed at boosting collaboration in mineral exploration and related ventures.
As reported by cnbctv18.com, by combining KABIL’s expertise in acquiring mineral resources with Oil India’s experience in exploration and production, the partnership aims to meet India’s increasing demand for mineral resources and support sustainable economic growth.
