NALCO’s subsidiary KABIL signs MoU with Oil India Ltd. to develop critical mineral projects

The National Aluminium Company Limited’s subsidiary KABIL has reportedly signed a memorandum of understanding with Oil India Limited to explore and develop critical mineral projects jointly.

Signed at NALCO’s headquarters in Bhubaneswar, the MoU aims to build a strong collaboration between KABIL and Oil India and foster teamwork in exploring critical minerals, domestically and internationally.

According to the terms signed in the MoU, KABIL and Oil India will work together on existing and future projects, including identifying international critical mineral opportunities and jointly investing in selected ventures. This partnership will leverage the expertise of both companies to develop critical mineral projects and secure a reliable supply of these essential materials for India’s growing economy.

In April 2024, KABIL also signed a partnership with the Council of Scientific and Industrial Research-Institute of Minerals and Materials Technology (CSIR-IMMT), aimed at propelling India towards greater self-reliance in critical mineral resources, leveraging each other’s technical expertise.

National Aluminium Company Limited is a state-owned Indian producer of aluminium and alumina. Established in 1981, NALCO operates in various stages of the aluminium production process, from bauxite to aluminium smelting and power generation. The company has a market capital of over INR 33,000 crore as of June 2024.