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- A joint venture company Khanij Bidesh India limited(KABIL) has been set up with the participation of three Central Public Sector Enterprises (CPSEs).
- These CPSEs are National Aluminium Company Ltd.(NALCO), Hindustan Copper Ltd.(HCL) and Mineral Exploration Company Ltd. (MECL).
- The objective of the company is to ensure a consistent supply of critical and strategic minerals to Indian domestic market.
- The company would also ensure mineral security of the nation as it would help in realizing the overall objective of import substitution.
- The KABIL would also 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 company will also help in building partnerships with other mineral rich countries like Australia and those in Africa and South America, where Indian expertise in exploration and mineral processing will be mutually beneficial bringing about new economic opportunities.
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