Exclusive: KABIL likely to merge with ONGC Videsh, targets lithium blocks in Australia

In a major development that could reshape India’s overseas critical minerals strategy, Zee Business has learned that Khanij Bidesh India Limited (KABIL) may soon be merged with ONGC Videsh Limited (OVL). Sources say the proposal has reached an advanced stage and is likely to be placed before the Union Cabinet for approval in the near term. ONGC Videsh operates under the Ministry of Petroleum and Natural Gas, and the move is aimed at creating a single, strong global platform for acquiring strategic natural resources for India.

Alongside the merger talks, KABIL is accelerating its overseas acquisition plans. According to sources, the company is preparing to acquire 4 to 5 critical mineral blocks in Australia. The assets will include lithium-rich blocks which serve as essential resources for electric vehicles and battery storage systems and clean energy technologies. Australia is considered the most stable and resource-abundant location for critical minerals which establishes its importance to India’s ongoing mineral security efforts.

KABIL has expanded its international growth plans to include Argentina while continuing its search for new mineral blocks. Indian efforts to establish dependable critical mineral sources from various regions demonstrate increasing international focus on this mission.

KABIL is a government-backed joint venture created to secure strategic minerals overseas for India’s manufacturing, energy and defence sectors, with NALCO holding a 40 per cent stake in the company. The proposed merger with ONGC Videsh will create a partnership that unites KABIL’s mineral acquisition responsibilities with ONGC Videsh’s worldwide operational expertise if it receives approval. The Cabinet approval would serve as a critical milestone for India which needs to develop its essential mineral resources while enhancing its international resource protection abilities.