Coal India Partners with Global Firms for Critical Minerals Investment

New Delhi, Aug 5 (PTI) State-owned Coal India Ltd (CIL) has entered into non-disclosure pacts with companies from different nations to check the viability of potential investment in critical mineral projects, the government said on Monday.

Critical minerals are the foundation on which modern technology is built.

From solar panels to semiconductors, wind turbines to advanced batteries for storage and transportation, the world needs critical minerals to build these products.

Coal and Mines Minister G Kishan Reddy in a written reply to Rajya Sabha said, "CIL (Coal India Ltd) has signed non-disclosure agreements with companies from different countries.... in the critical mineral projects."

The PSU has also submitted its expression of interest for the development of projects for the exploration, extraction and processing of lithium-contained salts or other types of deposits in Chile, the minister said.

KABIL, a joint venture of three PSUs to scout for mineral assets overseas, has signed a pact for carrying out joint due diligence and further investment in lithium and cobalt mining assets in Australia. It will also help KABIL in taking long-term investment decisions and offtake arrangement to ensure sustainable supply of lithium and cobalt to the Country.

KABIL is continuously endeavouring to explore possibilities in other countries having rich potential of critical and strategic minerals, for long term investment.