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
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