GAIL, KABIL sign pact to explore opportunities in critical minerals
New Delhi, July 17
State-owned GAIL Limited has signed a Memorandum of Understanding with Khanij Bidesh India Limited to explore opportunities in critical and strategic minerals, as part of efforts to strengthen India's long-term resource security.
"The partnership provides a framework for cooperation in identifying and evaluating opportunities in critical and strategic minerals," GAIL said in a press release on Friday.
Under the agreement, the two public sector companies will exchange technical expertise, undertake capacity-building activities and explore joint initiatives across the mining value chain.
The collaboration is aimed at helping "strengthen India's long-term supply of these vital resources and clean energy transition," the release said.
The MoU was signed by Sanjeev Kumar, Executive Director (Research and Development and Exploration and Production) at GAIL, and Sunil Kumar Singh, Chief Executive Officer of KABIL. The signing took place in the presence of GAIL Director (Business Development) R K Singhal and other senior officials from the two organisations.
KABIL is a joint venture company under the Ministry of Mines, formed by three public sector enterprises: National Aluminium Company Ltd. (NALCO), Hindustan Copper Limited (HCL), and Mineral Exploration & Consultancy Limited (MECL).
It was established to "identify, acquire, develop, and secure overseas critical and strategic mineral assets to support India's long-term economic growth, industrial development, and energy transition," according to the company release.
GAIL is a Maharatna central public sector enterprise under the Ministry of Petroleum and Natural Gas. It operates across the natural gas value chain, including transmission and marketing, liquefied natural gas sourcing and regasification, petrochemicals, city gas distribution, renewable energy and upstream exploration and production.
— ANI
Reader Comments
Finally, our PSUs are thinking beyond oil and gas! GAIL diversifying into minerals is smart. We can't rely on China for everything. But KABIL needs to move faster - we've been talking about this since 2019.
Interesting collaboration. As someone working in mining, this makes sense - GAIL has the capital and global reach, KABIL has the mineral expertise. But are we planning to acquire assets in lithium-rich countries? That would be the real game-changer.
Good initiative but where is the transparency? We keep hearing about critical minerals but no details on which countries or minerals. Also, GAIL should focus on its core business - we still have gas connectivity issues in many states.
This is exactly what we need for Atmanirbhar Bharat in critical minerals. Our EV and renewable energy goals depend on lithium, cobalt, rare earths. But why only GAIL? Why not IOCL or ONGC? All PSUs should collaborate on this national priority.
Good strategic move, but India needs to learn from Chile and Australia - they don't just sign MoUs, they have aggressive acquisition strategies. Also, environmental concerns need to be addressed while mining these minerals.
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