Billionaire Adani’s New Copper Foray to Further Tighten World’s Ore Supply
- India’s copper concentrate imports expected to jump next year
- Nation’s refined copper demand seen growing 11% in 2024-25
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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 tons 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.