Page 2 - Copper

India plans global partnerships, investments to counter copper supply risk

New Delhi is also considering measures to help boost domestic refined copper output, including through foreign investment, the sources and the document said

Delegation from Chile in India to visit various units of Hindustan Copper

State-run Hindustan Copper Ltd (HCL) on Monday said a delegation of mining experts from Chile will visit various units of the PSU over the next three weeks to assess mining and operational aspects and explore opportunities for knowledge sharing and value addition. This comes after a memorandum of understanding (MoU) between HCL and CODELCO in the presence of the Prime Minister Narendra Modi and President of Chile Gabriel Boric Font, in April. "HCL welcomed a delegation from CODELCO (Corporacin Nacional del Cobre), the state-owned copper mining company of Chile, in New Delhi early today. In a first-of-its-kind mission in India, experts from the Chilean Copper major will be visiting all HCL units and offices across the country to assess various mining and operational aspects," the PSU said in a statement. The pact focuses on sharing knowledge and best practices to facilitate exploration, mining, and mineral beneficiation, along with employee training and capacity building. Mines ...

GSI team to visit Zambia to map and explore copper blocks this week

This is part of India's national critical minerals mission (NCMM), which aims to extend support to Indian public and private sector companies for mapping and exploration of critical mineral assets

Motilal Oswal recommends 'buy' on MCX Copper, set target at ₹915

Motilal Oswal Wealth Management recommends buying in the range of ₹882 - ₹880, with a stop-loss below ₹855 on a closing basis

India to defend import curbs on copper in legal battle with trade groups

India, the world's second-largest importer of refined copper, relies on imports to address shortfalls and meet robust demand in sectors such as energy, defence, automotives and infrastructure

India's copper demand set to grow 7% on clean energy push: PHDCCI

Propelled by growing consumption in the renewable energy sector and infrastructure development, copper demand is likely to rise about 7 per cent in the country in the coming years, according to industry officials. Policy initiatives such as construction of industrial corridors, housing for all Indians, national highway development projects, and energy transition projects are driving the demand for copper and it is anticipated to increase significantly, PHDCCI President Hemant Jain said. "Copper demand is expected to rise by 7 per cent in India in coming years. The copper sector is expected to attract private investment, supported by handholding by the government, especially through initiatives such as the PLI and Atmanirbhar Bharat," Jain said. According to industry estimates, India's refined copper production is around 555,000 tonnes per year against domestic consumption of more than 750,000 tonnes. India imports around 500,000 tonnes of copper a year to meet local demand. Industr

China planning to add cobalt, copper in boost to state metal reserves

Cobalt, copper, nickel and lithium are among the metals the government plans to purchase, according to people familiar with the discussion

JSW to set up 0.5 MMT capacity copper smelter in Odisha by 2028-29

In January, JSW said it was foraying into the copper business with a Rs 2,600 crore ($301.22 million) investment to operate two copper mines from Hindustan Copper for a period of 20 years

Caught in the geo-politics storm, Indian metal makers to see choppy prices

Base metals such as copper and aluminium are expected to see global deficits

Trump directs govt to consider possible tariffs on copper in latest move

President Donald Trump on Tuesday directed the government to consider possible tariffs on copper, the latest move by the White House to tax a wide array of imports and reshape global trade. It will have a big impact, said Trump before signing the executive order to study copper imports. On a call with reporters, White House trade adviser Peter Navarro portrayed the move as an effort to stop China's build out of its copper sector and to address a broader national security vulnerability. There is also a desire to restore the domestic mining, smelting and refining of copper given potential military and technological needs. Trump has long said his trade goals are to ensure that imports are equal in size to exports, so that the United States doesn't run trade deficits. But America runs a surplus with copper and the administration sees a national security risk from the forecasts of supply and demand. Last year, the United States exported $11.3 billion of copper and imported $9.6 billion

Novelis expects improved outlook in near term, Q4FY25 to outperform Q3

Upstream revenue in aluminium stood at Rs 9,990 crore in Q3FY25 (+25 per cent Y-o-Y).

JSW group forays into copper mining with Rs 2,600 crore investment

Sajjan Jindal group to join sector where Adani, Aditya Birla Group rival each other

India's copper demand rises by 13% to hit 1,700 kilo tonnes in FY24

India's copper demand grew by 13 per cent annually to hit 1,700 kilo tonnes in FY24, driven by the rapid pace of infrastructure development and building constructions, the International Copper Association India said on Monday. Traditionally, building construction and infrastructure account for 43 per cent of copper demand while contributing 11 per cent to GDP, International Copper Association India said in a statement. As per the study undertaken by the International Copper Association India, the copper demand in the country witnessed a 13 per cent year-on-year growth in FY24, reaching 1,700 kilo tonnes (kt). This surge is attributed to overall economic expansion. After the Covid pandemic, the average annual copper demand increased by 21 per cent between FY21 and FY24, the industry body said. It further said that the demand for the commodity will continue to rise in the next financial year as well, fuelled by rapidly growing infrastructure and building construction sectors in the .

Adani's Kutch copper refinery to help cut reliance on imports: Govt

The government on Friday said that once Adani's Kutch copper refinery is ramped up to full capacity, which is likely by early next year, the country will be self-sufficient in refined copper. In a statement, the mines ministry said that till that time some amount of import of refined copper will take place in India. "Adani's Kutch Copper Refinery has since come into production. However, as per company officials, ramp up to full capacity will require some more time (about Feb-March 2025). Once achieved, India will be self-sufficient in refined copper, and will not have to rely on imports," it said. In the last fiscal, India imported about 3,63,000 tonnes of refined copper cathode worth Rs 24,552 crore. Japan accounts for about two-thirds 67 per cent-- of the refined copper imports. In quantity terms, about 69 per cent of the country's refined copper imports come from Japan. Tanzania is India's second important source of refined copper, contributing about 18 per cent of the imports

Adani's Kutch Copper, BHP eyeing Rs 30,000 cr copper supply deal: Report

The potential supply agreement could be worth approximately Rs 30,000 crore per year, based on current market prices, which are subject to change

Adani's Kutch Copper nears Rs 30,000 crore copper sourcing deal with BHP

Adani-controlled Kutch Copper is reportedly in talks with Australian mining giant BHP for a deal involving up to 1.6 mtpa of copper concentrate, potentially worth Rs 30,000 crore annually

Birla's Hindalco, Jindal's JSW Steel in race for copper mines in Jharkhand

Aditya Birla Group firm Hindalco Industries and Sajjan Jindal-led JSW Steel are in the race for two copper mines in Jharkhand which will be put on sale this month, sources said. Both mines have a combined capacity of three million tonne per annum. Hindalco Industries and JSW Steel will be vying for state-owned Hindustan Copper Ltd's two copper mines in Jharkhand, sources said. The auction of both the mines is likely to take place in the month of October. While one of these blocks is virgin, the other one is closed for the past 20 years. Hindustan Copper had earlier invited applications for appointment of mine developer-cum-operator (MDO) for re-opening and expansion of Rakha Copper Mine and development and operations of underground Mine at Chapri. Hindustan Copper had said in its recent report that Rakha Mining Lease expired in 2021 and extension of mining lease period is under progress with the Jharkhand government. Further, the application for grant of stage one forest clearanc

Budget 2024: FinMin announces Critical Mineral Mission; what we know so far

Union Budget 2024: Finance Minister Nirmala Sitharaman announced the government will soon conduct the first round of offshore mineral auction round under the Critical Mineral Mission

Union Budget 2024: India scraps customs duty on 25 critical minerals

The finance minister added, "I propose to fully exempt customs duties on 25 critical minerals and reduce BCD on two of them"

Have arranged $250 million to settle Zambian copper mine debts: Vedanta

The miner owned by Indian billionaire Anil Agarwal will about the $250 million it needs to pay small creditors in Zambia on or around July 8, it said in a statement.