KABIL acquires five critical mineral blocks in Argentina

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Union Minister for Coal and Mines G. Kishan Reddy addresses a press conference on the achievements, reforms and key initiatives of the Government of India at Film Nagar Cultural Centre in Hyderabad on Monday (June 8, 2026) | Photo Credit: SIDDHANT THAKUR

Khanij Bidesh India Limited (KABIL), a joint venture of three Central Public Sector Enterprises under the Ministry of Mines — including National Aluminium Company Ltd. (NALCO) and Hindustan Copper Ltd. (HCL) — has secured five critical mineral blocks in Argentina, with operations already underway, said Union Minister for Coal and Mines G. Kishan Reddy on Monday (June 8, 2026).

Speaking at a press conference in Hyderabad, the Minister highlighted that the acquisition marks a significant step in India’s efforts to secure overseas mineral assets and reduce its heavy dependence on imports. Currently, nearly 93% of the country’s critical mineral requirements are met through imports, exposing key industries to supply risks.

To address this, the Centre has launched the National Critical Minerals Mission with an outlay of ₹32,000 crore, aimed at strengthening domestic capabilities and achieving long-term self-reliance. The mission aligns with Prime Minister Narendra Modi’s broader vision of securing resilient supply chains for strategic resources.

Critical minerals are essential for high-growth and strategic sectors such as semiconductors, renewable energy, electric mobility and defence. The Ministry has adopted a comprehensive seven-point strategy covering exploration, mining, processing, recycling, and research and development. To boost circular economy efforts, ₹1,500 crore in incentives have been allocated to promote the recycling of critical minerals, he explained.

“We are actively engaged in collecting e-waste and extracting critical minerals from it. Auctions of mineral blocks have been accelerated and completed within nine months of launching the mission,” Reddy said.

A dedicated initiative has been launched to explore rare