Amid tightening global copper supplies and rising import dependence, India is stepping up efforts to secure long-term copper access and reduce vulnerability through strategic trade negotiations and domestic expansion. According to sources in the government and a draft policy document, New Delhi is having discussions with countries rich in copper, especially Chile and Peru, in order to secure clauses in current Free Trade Agreements with committed copper supplies.
Currently, India imports over 90% of its copper concentrates and it will likely go to 97% of demand by 2047. In FY 2024-25, India's domestic refined copper supply is 573,000 metric tons. Indian domestic demand is 1.8 million tons, so the difference has been increasing imports, which reached 1.2 million metric tons in FY 2024-25.
India may allow global miners such as Codelco and BHP to develop smelters in India and may purchase interests in their rights overseas. The state-owned company, Khanij Bidesh India Ltd., has been directed to find copper assets in Chile, Peru, Australia and Mongolia.
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As global producers are moving towards "resource nationalism" that includes exports restrictions from China, India is prioritizing the acquisition of foreign assets as a way to protect supply chains and perform due diligence for its access to strategic minerals. The permanent closure of Vedanta's Sterlite facility in 2018, is a catalyst to increase domestic capacity and specifically Copper capacity in the domestic economy.
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