Khanij Bidesh India Ltd. (KABIL) and Oil India Ltd. (OIL) have formalized a strategic partnership by signing a Memorandum of Understanding (MoU) at NALCO’s corporate headquarters in Bhubaneswar, as detailed in a recent stock exchange filing.
KABIL, a joint venture between three government entities—National Aluminium Company (NALCO), Hindustan Copper Ltd., and Mineral Exploration and Consultancy Ltd.—operates under the Ministry of Mines and is dedicated to the development of overseas mineral assets.
The MoU outlines a collaborative framework for KABIL and OIL to work together on both current and future projects. The focus is on strengthening and expanding partnerships in the exploration and exploitation of critical minerals, a sector vital to India’s economic and industrial strategy.
The agreement aims to identify “international critical mineral opportunities” and perform “comprehensive due diligence” on potential ventures. Both companies will co-invest in promising projects, leveraging KABIL’s expertise in securing mineral resources and Oil India’s extensive experience in exploration and production.
Commenting on the MoU, Mr. Sridhar Patra, Chairman and Managing Director of NALCO and Chairman of KABIL, stated, “This MoU marks a significant milestone for KABIL. By combining the strengths of KABIL and OIL, we are opening new avenues for the exploration and exploitation of critical minerals both domestically and internationally. This collaboration is a step forward in our mission of Atma Nirbhar Bharat and securing the nation’s mineral resources.”
