The government on Friday said that once Adani’s Kutch copper refinery is ramped up to full capacity, which is likely by early next year, the country will be self-sufficient in refined copper.
In a statement, the mines ministry said that till that time some amount of import of refined copper will take place in India.
“Adani’s Kutch Copper Refinery has since come into production. However, as per company officials, ramp up to full capacity will require some more time (about Feb-March 2025). Once achieved, India will be self-sufficient in refined copper, and will not have to rely on imports,” it said.
In the last fiscal, India imported about 3,63,000 tonnes of refined copper cathode worth Rs 24,552 crore. Japan accounts for about two-thirds 67 per cent– of the refined copper imports.
In quantity terms, about 69 per cent of the country’s refined copper imports come from Japan.
Tanzania is India’s second important source of refined copper, contributing about 18 per cent of the imports; followed by Mozambique with a share of about five per cent.
As of now, seven applications from Japanese smelters have been received for BIS certification, of which one smelter Sumitomo Metal Mining Co. Ltd–has already been granted a licence. As per information received from BIS, two more licenses will be granted by next week.
Presently, four domestic suppliers namely, Adani’s Kutch Copper Ltd, Hindalco Industries Ltd, Gujarat Victory Forgings Pvt Ltd and Vedanta Ltd and four foreign suppliers, one each from Japan and Austria, and two from Malaysia have been certified by BIS to supply copper cathode to Indian market.
Thus, with four domestic BIS certified suppliers and four foreign BIS certified suppliers and another two certifications by mid of Dec, 2024, no serious supply side constraint is envisaged.
