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Since 1994, copper mining supply has doubled while the supplies of other metals have tripled (Figure 8). As such, copper supplies were relatively tight compared to those of aluminium and iron ore going into the pandemic, although prices of those other metals have also risen sharply in recent months as they too have been driven higher by the combination of mine shutdowns and strong consumer demand.
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Since 1994, copper mining supply has doubled while the supplies of other metals have tripled (Figure 8). As such, copper supplies were relatively tight compared to those of aluminium and iron ore going into the pandemic, although prices of those other metals have also risen sharply in recent months as they too have been driven higher by the combination of mine shutdowns and strong consumer demand.
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It is reportedly India’s only vertically integrated copper producer, involved in a range of activities including mining, beneficiation, smelting, refining and continuous cast rod production. According to its website, the company’s mines and plants are spread across five operating units – one each in the states of Rajasthan, Madhya Pradesh, Jharkhand, Maharashtra and Gujarat.
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India has limited copper ore reserves, constituting just 2 per cent globally, and imports around 95 per cent of its copper requirements as concentrates. 12 Supported by India''s growing refining capacity, India''s import reliance on copper will likely remain above 90 per cent as demand continues to grow at a steady pace.
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