Vedanta Group chairman Anil Agarwal took to X on Monday to call for the privatisation of Hindustan Copper with no retrenchment, sharing a chart made by the International Energy Agency—in which it projects that in a decade, the global copper demand will be 30% higher than the supply—to back his claim.

“In ten years, by 2035, global copper demand will be 30% higher than copper supply. Copper is the most critical of all metals given its intensive use in manufacturing, particularly in cutting-edge sectors like EVs, renewables infrastructure and AI data centres. India is already heavily import-dependent. Privatisation of Hindustan Copper with no retrenchment will change the game,” Agarwal said. 

India’s refined copper output stands at around 5.55 lakh tonnes/year, while domestic demand exceeds 7.5 lakh tonnes/year, creating a structural shortfall of about two lakh tonnes. Historically, India transitioned from being an exporter to a net importer since 2018, primarily due to the shutdown of Vedanta’s Sterlite Copper smelter in Thoothukudi.   

On the other hand, Adani’s Kutch Copper smelter, with an investment of approximately $1.2 billion, in Gujarat, is set to operate at full capacity of five lakh tonnes/year by June, with plans to double capacity. JSW Group also plans a smelter with a similar capacity in Odisha by 2028–29, scaling to a million tonnes/year by 2033–34. These initiatives suggest a significant increase in domestic refining capacity, aimed at reducing import dependence. 

India currently imports approximately 500 kilotonnes of copper every year, mainly from Japan and Chile, to meet its copper needs. Codelco (Chile) has signed agreements to supply concentrates to Adani’s Kutch facility and collaborate with Hindustan Copper.   

The government has also instituted import curbs since December 2023—quality certifications, factory inspections—to ensure standards and protect the domestic industry. To secure supply, India is signing mineral deals in Latin America, focusing on copper and lithium from Chile, Argentina, and Bolivia.  

Hindustan Copper Limited is a state-owned, public-sector undertaking (PSU) under the Ministry of Mines, Government of India, and the only vertically integrated copper producer in the country—from mining to refining and rod production.

In Malanjkhand, Madhya Pradesh, Hindustan Copper has India’s largest open-pit copper mine, with ongoing upgrades toward underground mining. The Khetri Copper Complex in Rajasthan includes underground mines and a concentrator and has been a part of the company since its inception. The Indian Copper Complex in Jharkhand hosts mines, beneficiation, smelting, and refining operations, whereas the Taloja Copper Project in Maharashtra produces continuous copper rods from refined cathode. 

In FY25, Hindustan Copper reported a revenue of about ₹2,071 crore and a net income of about ₹465 crore.