For decades, gold and silver have been the traditional safe-haven assets. But now, there's a new star rising—copper. And it’s not just glitter; it’s the metal that powers the modern world.
From electric vehicles and solar panels to data centers and AI infrastructure, copper is the silent engine of the green and digital revolutions. And as demand surges across the globe, three Indian giants are positioning themselves at the heart of this copper boom.
Let’s start with Vedanta. Through its subsidiary Vedanta Resources, the company is doubling down on the Konkola Copper Mines in Zambia. With plans to ramp up production to 300,000 metric tonnes annually, Vedanta is no longer just betting—it’s going all-in.
Then there's Adani Enterprises, which is weeks away from launching one of the world’s largest copper smelters. Phase one of the project will handle 500,000 tonnes, but that’s just the beginning. With further investment, Adani aims to double capacity to a million tonnes. Nearly 40% of this will power its own green energy and transmission verticals—making it a strategic copper consumer and supplier.
And finally, Hindustan Copper, the only government-owned, vertically integrated copper producer. It may not be grabbing headlines, but it’s making moves. With production hitting 3.78 million tonnes in FY24 and major growth coming from its Malanjkhand project, Hindustan Copper is pushing to reduce India's dependence on imports.
Why the rush?
Because copper prices recently hit an all-time high of $5.24 per pound, and the supply chain is under stress. New mines take over 16 years to become operational, and global copper demand is projected to hit 36.4 million tonnes by 2040.
India consumes over 750,000 tonnes a year, growing at 7% annually. Yet, we have just 0.2% of global reserves.
This gap spells opportunity—and these three Indian players are racing to fill it.
