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Adani's copper foray to tighten ore supply
Mint Mumbai
|December 15, 2023
The Kutch Copper Ltd facility is expected to come online in March next
The planned start of billionaire Gautam Adani's copper plant in India next year will spur a sharp rise in imports of concentrate, further tightening the global supply of ore on which smelters rely.
The Kutch Copper Ltd facility, with initial capacity of 500,000 tonnes a year, is slated to come online in March, boosting the country's potential production of the metal by 80%. Its launch will coincide with a dramatic drop in the availability of ore after the closure of a major mine in Panama and drastic cuts at operations owned by Anglo American Plc.
India joins China and other nations in rapidly expanding its ability to produce copper, a metal deemed crucial to the world's transition away from fossil fuels.
This story is from the December 15, 2023 edition of Mint Mumbai.
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