Adani Group to Launch $1.2 Billion Copper Smelter Project in India

6 Mar 2024 , 04:13 PM

The Adani Group, led by Gautam Adani, is set to launch its $1.2 billion copper smelter project through Kutch Copper Ltd (KCL), a subsidiary of Adani Enterprises Ltd. This project is expected to be the world’s largest single-location copper smelter, with operations beginning in the coming weeks. To facilitate this, KCL will source copper concentrates from Peru, Chile, and Australia, adopting a strategy involving both short and long-term arrangements with global miners and traders. 

In addition to this ambitious project, KCL is open to acquiring copper assets both in India and abroad, although specific details were not disclosed. The copper smelter aims to meet India’s robust demand for copper, particularly in sectors like construction, transport, and power. With India’s current copper imports and refined production scenario, Adani’s copper smelter is positioned to significantly contribute to domestic supplies, addressing the shortfall in the country’s copper needs. This move aligns with India’s increasing copper demand driven by clean energy initiatives and the transition to electric vehicles, with expectations of doubling copper demand by 2030.

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