Kabil, a joint venture under India’s Ministry of Mines, has already secured mineral blocks overseas. The company is now in active discussions with several countries, including Zambia and Chile, to expand its acquisitions. Union Minister of Coal and Mines, G. Kishan Reddy, made these comments during a recent event in Hyderabad.
Reddy, while addressing the launch of the 6th tranche of Critical Minerals Blocks Auction and a seminar on Centres of Excellence, highlighted the growing demand for electric vehicle batteries and renewable energy. He stated that this demand is expected to triple globally by 2030, emphasizing the need for a strong research and development ecosystem to meet these future requirements.
India has allocated approximately USD 4 billion to support the National Critical Mineral Mission. This amount is aimed at achieving the seven pillars of the mission. In comparison, the United States has dedicated only USD 1 billion for similar efforts within its borders.
