Khanij Bidesh India Ltd (KABIL), a joint venture of three PSUs, plans to acquire a lithium block in Australia this year. Mines secretary V L Kantha Rao highlighted KABIL’s efforts in Australia over the past year and expressed hope for securing an asset there. Despite higher costs compared to Argentina, Australia is a preferred location. KABIL, with a current paid-up capital of Rs 100 crore, aims to increase it to facilitate the acquisition. Additionally, the target is set to begin mining in lithium blocks in Argentina within the next two to three years.