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New UserCoal India signs pacts with global firms for potential investment in critical minerals projects
06 Aug 2024
Coal India Ltd signed
non-disclosure agreements with international companies to explore investments
in critical mineral projects, including lithium extraction in Chile. KABIL, a
joint venture of three PSUs, also signed an agreement for joint due diligence
and investment in lithium and cobalt mining in Australia, aimed at ensuring a
sustainable supply for India.
From solar panels to semiconductors, wind turbines to advanced batteries for storage and transportation, the world needs critical minerals to build these products.
Coal and Mines Minister G Kishan Reddy in a written reply to Rajya Sabha said,
"CIL (Coal India Ltd) has signed non-disclosure agreements with companies
from different countries.... in the critical mineral projects."
The PSU has also submitted its expression of interest for the development of
projects for the exploration, extraction and processing of lithium-contained
salts or other types of deposits in Chile, the minister said.
KABIL, a joint venture of three PSUs to scout for mineral assets overseas, has
signed a pact for carrying out joint due diligence and further investment in
lithium and cobalt mining assets in Australia. It will also help KABIL in
taking long-term investment decisions and offtake arrangement to ensure
sustainable supply of lithium and cobalt to the Country.
KABIL is continuously endeavouring to explore possibilities in other countries
having rich potential of critical and strategic minerals, for long term