Coal India signs pacts with Global Firms for Critical Minerals Investment

State-owned Coal India Ltd (CIL) has signed non-disclosure agreements with companies from various countries to assess the feasibility of potential investments in critical mineral projects, according to official sources.

Critical minerals form the basis of modern technology. These minerals are essential for producing a wide range of products, from solar panels and semiconductors to wind turbines and advanced batteries used for storage and transportation.

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

Join PSU Connect on WhatsApp now for quick updates! Click here

Read Also : WCL constructs sewage treatment plant at Kalpataru Special School under CSR

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 a 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.

Read Also : Reserve Bank of India imposes monetary penalty on Union Bank of India