Bhubaneswar: Khanij Bidesh India Limited (KABIL) has signed a Memorandum of Understanding (MoU) with Oil India Limited (OIL) to collaborate for projects focusing on critical mineral exploration and exploitation. Under the terms of the partnership, the companies will jointly explore international opportunities for critical minerals, conduct comprehensive research on potential projects, and co-invest in promising ventures.
The MoU was signed between Sadashiv Samantray, Director (Commercial) of NALCO and CEO of KABIL, and Ranjan Goswami, Executive Director (BD) of OIL. Sridhar Patra, the Chairman and Managing Director (CMD) of NALCO and chairman of KABIL, emphasizing the need for this collaboration said that the agreement aligns with the broader goal of ‘Atma Nirbhar Bharat’. It will help in ensuring mineral securitization of the country.
KABIL is a joint venture company of NALCO, Hindustan Copper Limited (HCL), and Mineral Exploration and Consultancy (MECL) under the auspices of the Ministry of Mines, Government of India. It is specifically mandated by the government to ensure a continuous and secure supply of critical minerals for the Indian economy.
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