Page 2 - Copper Producers

Adani's $1.2 bn Mundra copper plant to boost India's metal production

Billionaire Gautam Adani-led group is building the world's largest single-location copper manufacturing plant at Mundra in Gujarat, which will help cut India's dependence on imports and aid energy transition, sources said. The USD 1.2-billion facility will start operations of the first phase by March-end and full-scale 1 million tonnes capacity by FY29 (March 2029), two sources with knowledge of the matter said. India joins China and other nations that are rapidly expanding production of copper, a metal crucial for transition away from fossil fuels. Technologies critical to the energy transition like electric vehicles (EVs), charging infrastructure, solar photovoltaics (PV), wind and batteries, all require copper. Kutch Copper Ltd (KCL), a subsidiary of the group's flagship Adani Enterprises Ltd (AEL), is setting up a greenfield copper refinery project for the production of refined copper with 1 million tonnes per annum capacity in two phases. For Phase-1, capacity of 0.5 million .

Vedanta Resources seals copper assets agreement with Zambian govt

The government, which owns a 20% stake in KCM through ZCCM-IH, said in September that it had reached an agreement to allow Vedanta to resume control of the mines and smelter

Vedanta Resources gets back ownership, management of copper mine in Zambia

Vedanta Resources Ltd (Vedanta) on Tuesday said it will restart copper operations in Zambia after a government decision in favour of the company. In a statement, the metal and mining giant said: "The ownership and management of Konkola Copper Mines (KCM) has been returned to the company following a historic decision by the Government of the Republic of Zambia". KCM is a world-class asset having reserves of 16 million tonnes of contained copper. It has a copper grade of 2.3 per cent, the company said. Vedanta Resources Chairman Anil Agarwal said, "I welcome the decision of the Government of the Republic of Zambia to reinstate Vedanta at KCM. We have been committed to KCM since 2004 and believe that it is a prized asset in our portfolio". Copper is a critical mineral for the technologies of the future. Vedanta will become a fully integrated producer of copper and cater to India's fast-growing demand while also making Zambia the leading producer of copper in the world, he ...

Glencore to buy Pan American's stake in Argentina copper project for $475mn

The asset has proven and probable mineral reserves of 5.4 million tonnes of copper and 7.4 million ounces of gold, with an initial mine life of 28 years

Hindalco Q2 profit falls 36% on high energy costs, lower aluminium prices

Consolidated earnings before interest tax depreciation and amortisation (Ebitda) declined by 29 per cent YoY in Q2 to Rs 5,743 crore on higher input costs

Global copper market to have a surplus of 155,000 tonnes in 2023, says ICSG

Three-month copper on the London Metal Exchange was trading around $7,363 a tonne on Wednesday having declined more than 30% on growing recession fears since scaling a record peak of $10,845 in March

Copper prices weaken on worries over China and global slowdown

Copper has given up 30% since touching a record peak in March but has largely held in a range between $7,200 and $8,000 since the end of August

Hindustan Copper shareholders approve 23.2% dividend for FY22

Shareholders of state-owned Hindustan Copper Ltd (HCL) on Wednesday approved a 23.2 per cent dividend for the financial year ended in March 2022. The company would make a total dividend payout of Rs 112.17 crore as approved in the 55th Annual General Meeting, HCL said in a statement. During the meeting, HCL Arun Kumar Shukla said the production from the company's flagship project, Malanjkhand underground mine, has commenced. He also informed that the company has repaid a loan of Rs 729 crore in FY2021-22 from its internal accruals. As the global economy moves toward net zero carbon emissions through the energy transition, the role of copper remains pivotal as the most efficient conductive material, indispensable for capturing, storing and transporting green energy, he said. Hence, a significant rise in demand for copper has been predicted on account of the thrust on a low-carbon economy, he added.

Hindustan Copper Q2 profit after tax rises seven-fold to Rs 68 crore

The firm on Tuesday reported a seven-fold rise in consolidated profit after tax

Iron ore turns 'very hot' as 10% surge adds to commodities boom

Copper remains a favorite long wager in the commodities complex

Hindustan Copper scales over 8-year high, surges 25% in 3 days

With the past three days' rally, the market price of HCL appreciated by 58 per cent over its QIP issue price of Rs 119.60 per share

Copper just smashed past a record on LME: Here's what you need to know

The reddish brown metal is mostly unrivaled as an electrical and thermal conductor

Copper jumps to fresh all-time high as growth bets supercharge commodities

Yet, while the biggest miners are universally bullish on the outlook for copper, there are few new projects on the horizon, constraining future supply.

Copper is the new oil: Demand for the metal expected to soar this decade

The 2020s are expected to be the strongest phase of volume growth in global copper demand in history: report

Vedanta plans to set up Rs 10K-crore copper smelter unit in coastal region

Company's plant in Tamil Nadu's Thoothukudi was shut in 2018 after police firing on protesters killed 13 people.

Domestic non-ferrous outlook negative as global metal prices crash: Icra

Covid-19 outbreak drags aluminium prices by 16%, zinc by 23%, copper by 20%

Govt imposes anti-subsidy duty on copper wire rods import from 4 nations

DGTR has recommended imposition of the duty on the imports of 'continuous cast copper wire rods' from Indonesia, Malaysia, Thailand and Vietnam

Copper producers want waiver of 2.5% import duty on concentrates

China, Japan, Korea, European Union (EU) are already importing copper concentrate at zero duty

Copper producers switch to provisional pricing; aim to avoid losses

Aim to avoid losses from sudden spurt in procurement costs