Updated By: LatestGKGS Desk
Modi 2.0 Govt Forms 'KABIL' to supply strategic minerals to the Indian Market
Modi 2.0 Govt Forms 'KABIL' to supply strategic minerals to the Indian Market: Details, Aim, Features
In a bid to ensuring a consistent supply of critical and strategic minerals to the Indian domestic market, Modi 2.0 government has formed a joint venture company Khanij Bidesh India Ltd (KABIL) on 1st August 2019.
Khanij Bidesh India Ltd (KABIL) is a venture between National aluminum Company Ltd (NALCO), Hindustan Copper Ltd (HCL) and Mineral Exploration Company Limited (MECL) with equity 40:30:30 respectively.
This KABIL joint venture was signed in the presence of Shri Pralhad Joshi, Hon’ble Minister of Mines, Coal and Parliamentary Affairs, Mines secretary Shri Anil Mukim and other senior officers.
KABIL is set up to ensure mineral security to the nation and also help in realizing the overall objective of import substitution.
1. Energy storage through batteries will be done as a way of ensuring the commitment at the UN Climate Conference Paris 2015 where India pledged to reduce greenhouse gas emissions and adapt to a greener mode of transportation.
2. Minerals are needed in Aviation, Defence and Space Research sectors, but they especially require minerals with lower weight and high mechanical strength. Out of the 12 such minerals identified, Lithium Cobalt is significant ones.
