(Commonwealth_India) India has introduced a strategic initiative to attract foreign investment for building copper smelting and refining facilities within its borders, according to a Reuters report. The objective is to significantly enhance the country’s copper production capacity and reduce its dependence on imports by 2047.
In fiscal 2025, copper imports rose by 4%, reaching 1.2 million tons. The policy document projects domestic copper demand to grow to between 3 and 3.3 million tons by 2030 and further escalate to approximately 8.9 to 9.8 million tons by 2047. To meet this rising demand, India plans to expand its smelting and refining capacity by an estimated 4 to 5 million tons.
To encourage this growth, the government introduced a policy that also highlights the importance of expanding supply sources and receiving overseas mining assets, clearly welcoming investment from global mining giants like Codelco and BHP.
The document advises Indian companies to actively invest in foreign mining projects to secure a stable supply of copper and reduce the risk of supply chain disruptions. Despite possessing an estimated 12.2 million tons of copper resources domestically, only about 18% are currently classified as accessible reserves, indicating the importance of enhanced exploration and international collaboration.
To secure consistent supplies of copper concentrate, India is also negotiating the inclusion of dedicated copper provisions in its ongoing free trade agreement speaks with major copper producers such as Chile and Peru. The report highlights that supply restrictions from key exporters like Indonesia and Panama further challenge India’s copper procurement.
Separately, the Indian government has outlined plans to boost aluminum production in anticipation of demand reaching 8.5 million tons by 2030. Furthermore, India has launched a significant mineral exploration initiative in Zambia, where a team of Indian geologists is exploring copper and cobalt deposits. The Zambian government has designated 9,000 square kilometers of land for this exploration effort.
Through this multifaceted approach, combining domestic capacity building, international investment, and strategic resource acquisition, India aims to strengthen its copper production capabilities and reduce import reliance over the coming decades
