Copper

India's copper demand rises by 13% to hit 1,700 kilo tonnes in FY24

India's copper demand grew by 13 per cent annually to hit 1,700 kilo tonnes in FY24, driven by the rapid pace of infrastructure development and building constructions, the International Copper Association India said on Monday. Traditionally, building construction and infrastructure account for 43 per cent of copper demand while contributing 11 per cent to GDP, International Copper Association India said in a statement. As per the study undertaken by the International Copper Association India, the copper demand in the country witnessed a 13 per cent year-on-year growth in FY24, reaching 1,700 kilo tonnes (kt). This surge is attributed to overall economic expansion. After the Covid pandemic, the average annual copper demand increased by 21 per cent between FY21 and FY24, the industry body said. It further said that the demand for the commodity will continue to rise in the next financial year as well, fuelled by rapidly growing infrastructure and building construction sectors in the .

Adani's Kutch copper refinery to help cut reliance on imports: Govt

The government on Friday said that once Adani's Kutch copper refinery is ramped up to full capacity, which is likely by early next year, the country will be self-sufficient in refined copper. In a statement, the mines ministry said that till that time some amount of import of refined copper will take place in India. "Adani's Kutch Copper Refinery has since come into production. However, as per company officials, ramp up to full capacity will require some more time (about Feb-March 2025). Once achieved, India will be self-sufficient in refined copper, and will not have to rely on imports," it said. In the last fiscal, India imported about 3,63,000 tonnes of refined copper cathode worth Rs 24,552 crore. Japan accounts for about two-thirds 67 per cent-- of the refined copper imports. In quantity terms, about 69 per cent of the country's refined copper imports come from Japan. Tanzania is India's second important source of refined copper, contributing about 18 per cent of the imports

Adani's Kutch Copper, BHP eyeing Rs 30,000 cr copper supply deal: Report

The potential supply agreement could be worth approximately Rs 30,000 crore per year, based on current market prices, which are subject to change

Adani's Kutch Copper nears Rs 30,000 crore copper sourcing deal with BHP

Adani-controlled Kutch Copper is reportedly in talks with Australian mining giant BHP for a deal involving up to 1.6 mtpa of copper concentrate, potentially worth Rs 30,000 crore annually

Birla's Hindalco, Jindal's JSW Steel in race for copper mines in Jharkhand

Aditya Birla Group firm Hindalco Industries and Sajjan Jindal-led JSW Steel are in the race for two copper mines in Jharkhand which will be put on sale this month, sources said. Both mines have a combined capacity of three million tonne per annum. Hindalco Industries and JSW Steel will be vying for state-owned Hindustan Copper Ltd's two copper mines in Jharkhand, sources said. The auction of both the mines is likely to take place in the month of October. While one of these blocks is virgin, the other one is closed for the past 20 years. Hindustan Copper had earlier invited applications for appointment of mine developer-cum-operator (MDO) for re-opening and expansion of Rakha Copper Mine and development and operations of underground Mine at Chapri. Hindustan Copper had said in its recent report that Rakha Mining Lease expired in 2021 and extension of mining lease period is under progress with the Jharkhand government. Further, the application for grant of stage one forest clearanc

Budget 2024: FinMin announces Critical Mineral Mission; what we know so far

Union Budget 2024: Finance Minister Nirmala Sitharaman announced the government will soon conduct the first round of offshore mineral auction round under the Critical Mineral Mission

Union Budget 2024: India scraps customs duty on 25 critical minerals

The finance minister added, "I propose to fully exempt customs duties on 25 critical minerals and reduce BCD on two of them"

Have arranged $250 million to settle Zambian copper mine debts: Vedanta

The miner owned by Indian billionaire Anil Agarwal will about the $250 million it needs to pay small creditors in Zambia on or around July 8, it said in a statement.

Crude Oil, Copper: Check trading strategy, target price and more

Buy MCX July Crude Oil futures at Rs 6,950-7,000 with a stop loss of Rs 6,860 and a price target of Rs 7,250

Copper demand to skyrocket with shift to clean energy sources: HCL CMD

The demand for copper, a key component in electric vehicles, will go up substantially as the world shifts to cleaner energy sources to mitigate climate change, according to Hindustan Copper Chairman and Managing Director Ghanshyam Sharma. By transitioning from fossil fuels to renewable energy sources like solar, wind, hydro, and geothermal, greenhouse gas emissions can be reduced significantly. "As the world transitions to cleaner energy sources...the demand for copper will increase significantly as a vital component in electric vehicles and renewable energy technologies such as solar panels, wind turbines etc," the CMD said in a recent message on the company's website. He further said the company has been given the charge of utilisation of the nation's copper resources in an efficient and sustainable way. India, he said, is committed to achieving net zero emission by 2070. According to ICRA, the domestic refined copper demand growth is expected to remain healthy at 11 per cent in

Adani, Hindalco show interest in Hindustan Copper's Jharkhand mines

The interest from Adani Enterprises and Hindalco Industries, two of India's leading industrial conglomerates, highlights the potential and attractiveness of these mines

Copper, Crude Oil: Check key trading strategy, target price and more

On the daily chart, MCX Copper has been unable to sustain the breakout of its rising channel pattern and has moved down, forming a lower high, lower low pattern, indicating bearish sentiment

Copper demand to boom as new tech drives power consumption: Trafigura

Technological developments such as artificial intelligence and automation, and the energy transition, which includes electric vehicles and renewable energy

Russia, China trade new copper disguised as scrap to skirt taxes, sanctions

Copper wire rod was shredded in China's remote Xinjiang Uyghur region by an intermediary to make it difficult to distinguish from scrap

AI demand could add 1 million tons to copper demand by 2030, says Trafigura

"That's not something that anyone has actually factored into a lot of these supply and demand balances." Rahim did not say what global copper demand would be in 2030

Shift in copper market dynamics: Changing fortune of two companies

As one incumbent struggles legally, a new entrant is planning to ramp up capacity, according to schedule

Adani group to source copper concentrates from Peru, Chile, Australia

Kutch Copper Ltd (KCL), a subsidiary of Adani Enterprises Ltd, expects to start its operations in the next few weeks

SC dismisses Vedanta's plea against closure of copper plant in Thoothukudi

The Supreme Court on Thursday dismissed a Vedanta group's plea against the closure of its copper smelting plant in Tamil Nadu's Thoothukudi. The plant has been closed since May 2018 after 13 people were killed as police opened fire to quell a protest over alleged pollution caused by it. A bench headed by Chief Justice D Y Chandrachud said the health and welfare of residents of the area is a matter of "utmost concern" and the state government is responsible for preserving and protecting their concerns. " we have come to the conclusion that the Special Leave Petition (SLP) by the industrial unit shall not warrant interference under Article 136 of the Constitution. For the above reasons, the SLP shall stands dismissed," the bench, also comprising justices J B Pardiwala and Manoj Misra, said. The Madras High Court had in August 2020 rejected Vedanta's plea for allowing reopening of its Sterlite Copper unit.

SC proposes to inspect closed Vedanta group's copper plant in Tamil Nadu

The Supreme Court on Wednesday proposed a panel of domain experts to inspect the closed Sterlite copper unit in Tamil Nadu's Tuticorin and suggest further compliances and way forward, saying shutting down a plant of national importance will not serve anybody's purpose. The plant is closed since May 2018 after 13 people were killed as police opened fire to quell a protest over alleged pollution caused by it. The top court, while hearing a plea by the Vedanta group company, mooted the idea of setting up of a panel of experts and sought views of the firm, the Tamil Nadu government and the state pollution control board. Ultimately, shutting down the plant of national importance will not serve anybody's purpose, a bench comprising Chief Justice DY Chandrachud and Justices J B Pardiwala and Manoj Misra observed. The bench, however, made it clear that it cannot grant permission to the firm to refurbish the plant as an interim order. The bench, which heard the submissions of senior advoca

Hindustan Copper Q3 results: Profit falls 21% to Rs 63 cr on lower revenue

State-owned Hindustan Copper on Tuesday reported 21.44 per cent decline in consolidated net profit at Rs 63 crore for the quarter ended December 31, 2023 due to lower revenue from operations. The company had posted a net profit of Rs 80.20 crore for the year-ago period, Hindustan Copper said in a filing to BSE. Revenue from operations in the quarter dropped to Rs 399.29 crore from Rs 557.04 crore in the year-ago period. Hindustan Copper is under the administrative control of Ministry of Mines.