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Billionaire Adani s New Copper Foray to Further Tighten World s Ore Supply

Billionaire Adani s New Copper Foray to Further Tighten World s Ore Supply
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Adani s new copper foray to further tighten world s ore supply

Billionaire Adani s new copper foray to further tighten world s ore supply

Billionaire Adani s new copper foray to further tighten world s ore supply
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copper plant: Billionaire Adani s new copper foray to further tighten world s ore supply

Billionaire Gautam Adani s copper plant in India, set to launch in March, will spike ore imports, impacting global supply. The 500,000-ton facility amplifies India s copper output by 80%, coinciding with a global ore shortage due to closures elsewhere. India s import could hit 2 million tons in 2024, straining an already tight market, driven by rapid smelting growth in China and India. The plant s potential to double capacity will fuel India s demand amid the shift to renewable energy.

India s copper industry has a new entrant, incumbents not worried

Gautam Adani s conglomerate is about to step into a new business venture: India s copper industry, boasting half a million tonnes of refining capacity slated for March next year. Although the incremental capacity doubles India s last year s production, industry executives suggest that Adani poses less of a threat to the incumbents and more to those exporting to India. The new capacity of Kutch Copper is expected to reshape trade dynamics, said Miren Lodha, director-research, CRISIL Market Intelligence & Analytics.

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