Latest news with #CopperVisionDocument
Business Standard
6 days ago
- Business
- Business Standard
India's Copper demand seen expanding six-fold by 2047
Union Minister for Coal and Mines G. Kishan Reddy today released the Copper Vision Document at the International Conference on Sustainable and Responsible Mining through Best Mine Closure Practices, organized by the Indian National Committee of the World Mining Congress today. Reddy emphasized coppers vital contribution to Indias energy transition, infrastructure growth, and green technologies such as electric vehicles and solar power. He stated that the Vision Document provides a long-term strategy to meet growing domestic demand while ensuring raw material security. The Copper Vision Document anticipates a six-fold increase in demand by 2047 and outlines plans to add 5 million tonnes per annum of smelting and refining capacity by 2030. It focuses on scaling up secondary refining, enhancing domestic recycling, and reducing dependence on open-market imports by securing overseas mineral assets through global partnerships.
&w=3840&q=100)
Business Standard
6 days ago
- Business
- Business Standard
Centre charts roadmap for six-fold rise in copper, aluminium output
The Centre has unveiled long-term strategies to boost domestic production of copper and aluminium by ramping up refining and smelting capacity, recycling, and reducing import dependence through the acquisition of overseas mineral assets. Coal and Mines Minister G. Kishan Reddy released the Copper and Aluminium Vision Documents on Friday at the International Conference on Sustainable and Responsible Mining through Best Mine Closure Practices in Hyderabad. It was organised by the Indian National Committee of the World Mining Congress. The Copper Vision Document anticipates a six-fold increase in demand by 2047. It sets a target of adding 5 million tonnes per annum of smelting and refining capacity by 2030, the Ministry of Mines said in a statement. Copper has been notified as a critical mineral in India. It also aims to reduce dependence on open-market imports by acquiring overseas mineral assets through global partnerships, scaling up secondary refining, and enhancing domestic recycling. The target is to double the national aluminium recycling rate, promote the adoption of low-carbon technologies, and strengthen raw material security through targeted policy reforms and institutional mechanisms. India's non-ferrous metal sector witnessed significant growth in FY25, with both refined copper and primary aluminium production recording notable increases. Refined copper production rose by 12.6 per cent, climbing from 5.09 lakh tonnes (LT) in FY24 to 5.73 LT in FY25, according to government data. Meanwhile, primary aluminium production touched a new record, increasing from 41.6 LT in the previous fiscal to 42 LT. Reddy emphasised copper's vital contribution to India's energy transition, infrastructure growth, and green technologies such as electric vehicles and solar power, the statement said. He highlighted the aluminium sector's strategic role in enabling clean energy systems, electric mobility, and modern infrastructure. The vision documents were developed through consultations with public and private sector players, including Hindustan Copper Ltd (HCL), Hindalco Industries Ltd, Vedanta Ltd, along with industry associations such as the Indian Primary Copper Producers Association (IPCPA), International Copper Association (ICA), and Aluminium Association of India (AAI).
Time of India
6 days ago
- Business
- Time of India
Copper strategy: India eyes sixfold rise in demand by 2047; Centre unveils plan to expand refining capacity
Union minister G Kishan Reddy on Friday unveiled the government's Copper Vision Document, a blueprint aimed at preparing India's copper ecosystem to meet the expected surge in domestic demand over the next two decades. The roadmap projects that India's copper demand will rise sixfold by 2047 and sets a target of adding 5 million tonnes per annum of smelting and refining capacity by 2030. It also outlines a multipronged approach including ramping up secondary refining, improving domestic recycling systems, and securing access to overseas mineral resources through global partnerships, according to PTI. 'Copper plays a critical role in our energy transition, infrastructure expansion and adoption of green technologies like electric vehicles and solar energy,' said Reddy, who holds the coal and mines portfolio. He added that the document offers a strategic pathway to meet India's growing consumption needs while ensuring raw material security. The launch took place at the International Conference on Sustainable and Responsible Mining through Best Mine Closure Practices hosted by the Indian National Committee of the World Mining Congress in Hyderabad. The mines ministry said the document is aligned with Prime Minister Narendra Modi's goal of achieving a Viksit Bharat by 2047 and marks a significant step toward building a sustainable, resilient and future-ready domestic copper industry. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
