The $1.2 billion facility is expected to commence the first phase of operations by the end of March. The Adani Group, led by billionaire Gautam Adani, is constructing the world’s largest single-location copper manufacturing plant in Mundra, Gujarat. This plant is anticipated to reduce India’s reliance on imports and support the transition to cleaner energy.
The $1.2 billion facility is set to initiate its first phase of operations by the end of March and aims to achieve its full-scale capacity of 1 million tonnes by 2029. India is aligning with other nations, including China, in rapidly increasing copper production, a pivotal metal for transitioning away from fossil fuels. Essential technologies for the energy transition, such as electric vehicles (EVs), charging infrastructure, solar photovoltaics (PV), wind, and batteries, heavily rely on copper.
Adani’s copper plant emerges as Vedanta Ltd aims to reopen a long-idle 400,000-tonnes plant in Tuticorin, Tamil Nadu. Hindalco Industries Ltd currently operates the country’s largest copper smelter with a capacity of 0.5 million tonnes. Copper, ranking as the third most utilized industrial metal after steel and aluminium, witnesses escalating demand driven by the rapidly growing renewable energy, telecom, and electric vehicle industries.
India’s burgeoning demand for copper surpasses domestic production, resulting in heightened reliance on imported copper due to local supply disruptions. Over the past five years, India’s copper imports have shown a continuous upward trend. On a global scale, copper production is more concentrated than oil, with Chile and Peru, the top two producers, contributing to 38% of world production.