Wedoany.com Report-Apr. 7, Chile’s national copper company, Codelco, has agreed to supply copper concentrates to Kutch Copper, a $1.2 billion (Rs102.42 billion) smelter operated by India’s Adani Group in Gujarat. This partnership was formalized during a meeting in Ahmedabad, Gujarat, between Codelco Chairman Maximo Pacheco and Adani Group Chairman Gautam Adani at the conglomerate’s headquarters. Deliveries from Codelco to the smelter are set to begin this year.
This move comes as India’s copper imports have risen sharply following the closure of Vedanta’s Sterlite Copper smelter in 2018.
Kutch Copper Limited (KCL), a subsidiary of Adani Enterprises, is constructing a one-million-tonne-per-annum copper complex in Mundra, Gujarat. The facility aims to lessen India’s dependence on imported copper, which has increased significantly since the 2018 closure of Vedanta’s Sterlite Copper smelter, a plant that once produced 400,000 tonnes annually. At present, India’s copper production is limited to Hindalco Industries, part of the Aditya Birla Group, and the state-owned Hindustan Copper.
perational for a year, the Kutch Copper smelter is the world’s largest single-location facility of its kind. Recently, it formed a joint venture to produce wires and cables. The plant sources its copper concentrates from multiple countries, including Chile, according to company executives cited.O
In a related move, Codelco has entered into an initial agreement with Hindustan Copper to collaborate on mineral exploration and processing. Additionally, the company obtained a $666 million loan from the Japan Bank for International Cooperation and a private lender. This funding will support the steady supply of copper concentrates to Japanese manufacturers, meeting rising global demand.
The Kutch Copper initiative aligns with India’s efforts to boost domestic production and reduce reliance on foreign copper. Meanwhile, Codelco’s expanding partnerships, including talks with Saudi Arabia for potential joint copper investments, highlight its role in addressing worldwide demand. The smelter in Gujarat stands to benefit from these international ties, strengthening its supply chain and operational capacity.
