Chile’s state-owned copper giant, Codelco, the world’s largest copper producer, announced on Wednesday that it will begin supplying copper concentrates to Adani Group’s $1.2 billion smelter, the world’s largest single-location copper plant.
The deal, which is set to begin this year, was confirmed by Codelco’s Chairman Maximo Pacheco after a meeting with Adani Group Chairman Gautam Adani at the conglomerate’s headquarters in Ahmedabad, Gujarat.
The smelter, officially known as Kutch Copper, is located in the western Indian state of Gujarat. Company executives revealed that the plant would source copper concentrates from various countries, including Chile. The facility began operations a year ago and recently entered into a joint venture to manufacture wires and cables.
India’s copper imports have surged since the 2018 closure of Vedanta’s Sterlite Copper smelter, which had produced approximately 400,000 metric tons of copper annually. Today, the country’s copper production is limited to Hindalco Industries, part of the Aditya Birla Group, and state-owned Hindustan Copper.
Additionally, Codelco signed a preliminary agreement with Hindustan Copper to explore opportunities for mineral exploration and processing cooperation.
Related topics:
Nippon Steel Boosts Investment to Save US Steel Merger
