India's KABIL Eyes Lithium Acquisition in Australia | 14 May 2024

Khanij Bidesh India Ltd (KABIL), a joint venture of three public sector undertakings, is working to acquire a lithium block in Australia.

KABIL is a joint venture of National Aluminium Company Ltd (Nalco), Hindustan Copper Ltd (HCL), and Mineral Exploration and Consultancy Ltd (MECL) the Central Public Sector Enterprises (CPSEs) under the Ministry of Mines.
- It aims to identify, acquire, develop, process, and commercialise strategic minerals from overseas locations for supply in India, with a focus on battery minerals like Lithium and Cobalt.
Lithium is a crucial mineral for the energy transition, as it is a fundamental component of lithium-ion batteries that power electric vehicles and battery energy storage systems.