Home / Economy / News / India's trace mineral SPV plans equity top-up, ministries hold talks

India's trace mineral SPV plans equity top-up, ministries hold talks

The three promoter companies have promised to plumb in equity in the ratio of 40:30:30

An Afghan miner pushes a wagon at the Karkar coal mine in Pul-i-Kumri, about 170km north of Kabul. (Photo: Reuters)

Premium

Representative Image. Photo: Reuters

3 min read Last Updated : Jul 19 2022 | 6:01 AM IST

After a three-year incubation of India’s special purpose vehicle (SPV) to ferret out trace minerals —including lithium and cobalt — overseas, there are fresh plans of an equity top-up. Both the mines and finance ministries have held discussions this summer to identify the sources.

Khanij Bidesh (KABIL) was approved in August 2019 as a joint venture (JV) between three state-owned mineral companies — National Aluminium Company (Nalco), Hindustan Copper (HCL), and Mineral Exploration Company. This is the third time in two decades after ONGC Videsh and Coal Videsh that will have the government promote JVs to prospect for minerals overseas.

But KABIL

Topics : minerals Hindustan Copper Nalco

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in