India Deploys $4B War Chest to Secure Critical Minerals in LatAm and Africa

On 16 September 2025, Indian Union Minister for Mines Kishan Reddy revealed that state-owned enterprise Khanij Bidesh India Limited (KABIL) is having negotiations to acquire #CriticalMinerals mines in Zambia and Chile. KABIL has already got a foothold in the lithium triangle in South America by acquiring #Lithium blocks in Argentina in January 2024.

Minister Reddy was speaking at the launch of the auction of the 6th tranche of blocks of Critical Minerals in Hyderabad, India. The auction attracted both local and overseas interest. For the first time, the states of Telangana, Punjab, Uttarkhand, and West Bengal took part in the bid, highlighting the growing interest in #CriticalMinerals, that are essential for #eMobility, electronics and defense.

India is also partnering with Australia, Japan, Peru, and the UAE to set up Global Supply Chains independent of China. To that effect, the Modi Government has allocation no less than USD 4 billion to realize this goal under the amended Mines and Minerals Development and Regulation (MMDR) Act. During FY 2023-2024, the import bill for lithium from China amounted to USD 3.5 billion.

The Government is also adopting a two-pronged approach. While looking for new sources internationally, it is also promoting recycling locally. Tariffs on 23 Critical Minerals have also been slashed.

Other than Zambia, KABIL is pursuing assets in Namibia and the Democratic Republic of Congo. The Indian Institute of Hyderabad is being enlisted by the Government to set up Centers of Excellence for smart mining and advanced mineral processing.