Strike while the iron is hot: Anil Agarwal calls copper the ‘next gold’ in clean energy era

Vedanta Group Chairman Anil Agarwal has advised India’s entrepreneurs and investors to grab the moment, calling copper the “new super metal” of the clean energy revolution. In a post on social media platform X, he compared copper to gold, not in price, but in strategic value.

Agarwal pointed to the decision by Barrick Gold, the world’s second-largest gold producer, to drop “Gold” from its name, signalling a shift in focus towards copper. “Copper is the new gold,” he said, noting its growing use in electric vehicles (EVs), renewable energy infrastructure, AI technologies, and modern defence equipment.

“Globally, copper mines are being revitalised, new smelters built,” he wrote. He described this as a turning point, especially for India, which has a wealth of untapped potential in critical and transition metals.

Copper is a key metal in the global shift to clean energy. Its better conductivity makes it essential for EVs, solar panels, wind turbines, and data centres. Demand is overtaking supply, and prices are increasing.

Agarwal’s comments come as countries worldwide race to secure critical minerals needed for decarbonisation and digitalisation. China currently dominates the copper supply chain, but India, with the right push, could emerge as a serious player.

Agarwal, who has long advocated for domestic mining and metal production, said this is a golden opportunity for Indian youth. “Let’s make it a mission,” he added.

With India’s rapid growth and rising energy needs, the call to action is timely. Copper may not glitter like gold, but in the new age of sustainability and smart technology, its value could well shine brighter.

Currently, the largest integrated copper miner in India is Hindustan Copper Ltd., and the largest refined copper producer and copper rod manufacturer is Hindalco Industries. Also, Hindalco is the second-largest producer of copper rods outside China and is steadily moving towards crossing 1 million tonnes in refined copper production.