India Charts Global Partnerships and Investments to Reduce Copper Reliance

New Delhi, Jun 26 (KNN) In response to mounting concerns over copper supply vulnerabilities, India is crafting a comprehensive strategy to reduce its dependence on imports and strengthen domestic output.

With over 90 per cent of copper concentrate currently imported—and projected to rise to 97 per cent by 2047—the policy marks a shift toward diversifying supply sources and boosting resilience.

A draft government document, confirmed by internal sources, reveals that India is planning to leverage ongoing free‑trade negotiations with countries like Chile and Peru to carve out a distinct “copper chapter”—securing long‑term supply assurances of copper concentrate.

Additionally, the strategy includes courting global mining giants such as Chile’s Codelco and Australia’s BHP to co‑invest in domestic smelters and refineries.

Talks may involve Indian state-backed firms taking stakes in overseas mines in exchange for infrastructure commitments in India.

India also plans to amplify its domestic refined copper output—currently around 573,000 tons per year, against a demand of roughly 1.8 million tons—by inviting foreign investment into smelting and refining operations.

The shuttering of Vedanta’s Sterlite smelter in 2018 intensified import dependence, which has surged to 1.2 million tons in the fiscal year ending March 2025.

With global copper markets tightening and “resource nationalism” on the rise—evident in recent export curbs on rare earths—India’s urgency to secure stable, long‑term copper access has intensified.

The plan involves empowering state‑run Khanij Bidesh India Ltd to manage overseas mineral sourcing and pursue acquisitions in Australia, Mongolia, Chile, and Peru.

This multi-pronged approach—spanning trade diplomacy, international partnerships, and domestic capacity-building—is designed to insulate India’s infrastructure, manufacturing, and green‑energy ambitions from global supply shocks.

(KNN Bureau)