India’s Copper Crisis: Privatization Push and Adani’s Ambitious Play Amid Global Shortfall

The global copper market is on the brink of a supply crunch, with the International Energy Agency (IEA) projecting a 30% shortfall by 2035. India has become increasingly vulnerable due to rising import dependence after the closure of

Vedanta’s Sterlite Copper plant in Thoothukudi in 2018. Once among the world’s top five copper exporters, India now imports over 181,000 tonnes annually while exports have plummeted. Vedanta Chairman Anil Agarwal has called for the privatization of Hindustan Copper to boost domestic production and reduce reliance on imports. Simultaneously, the Adani Group is building a $1.2-billion greenfield copper refinery at Mundra, Gujarat, aiming to produce 1 million tonnes annually by FY29. The project will include production of refined copper and valuable byproducts like gold, silver, and sulphuric acid, supporting India’s energy transition goals. With copper demand expected to double to 1.7 million tonnes by 2027, driven by EVs, solar PV, and wind infrastructure, self-reliance in copper production is more critical than ever. Adani’s Kutch Copper project emphasizes sustainability through zero liquid discharge and renewable energy use, aligning with India’s climate commitments. Meanwhile, China’s dominance in mineral processing highlights the need for India to scale up domestic refining capacity. Both Vedanta’s push for privatization and Adani’s ambitious expansion aim to transform India into a self-reliant copper powerhouse, ensuring long-term energy security and economic resilience.