Monday, July 7, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Manufacturing

Manufacturing: Govt looks for copper mines in Africa

Fiinews by Fiinews
August 11, 2023
in Manufacturing
Reading Time: 3 mins read
A A
0
Vedanta
0
SHARES
10
VIEWS
LinkedinShare on Twitter

0:00

Verma calls for advanced technology to produce valued-added copper products

The Government is aiming to acquire copper mines abroad, especially in Africa, while it is increasing domestic mining of metal, which is expected to witness huge demand in future, especially from rural applications.

To be competitive globally, the prices of domestic copper manufacturers should be at par with the landed price of imports, Sanjiv IRS, Joint Secretary, DPIIT, pointed out that it is an integral part of human civilization.

Addressing the session ‘Role of Copper Industry in Indian Economic Growth’, organized by FICCI, jointly with International Copper Association, he further emphasised on the domestic value addition for the copper products.

Sanjiv highlighted on the importance of securing supply of copper concentrate for which he outlined the initiatives taken by the Government, for increasing domestic mining as well as to acquire copper mines abroad, especially in Africa.

He also stated that to be competitive globally, the prices of domestic manufacturers should be at par with the landed price of imports.

Stressing on the importance of copper in the Indian economy, Sanjiv mentioned that there is a need to create an entire ecosystem taking all the stakeholders together as every segment is interdependent.

S K Roongta, Mentor, FICCI Non-Ferrous Metals Committee, said that the role of copper has become vital as India’s growth has picked up with recent urbanisation.

He mentioned different industries like electrification, defence, renewable, etc. that require copper as the major element. However, there is very little integration of copper value chain in India as compared to other countries.

“The need of the hour is to plan and prioritise copper integration right from mining ore to the production of copper products,” he added in a FICCI release on 7 Aug 2023.

Puneet Khurana, Deputy Chief Executive Officer, Sterlite Copper, emphasised on the initiative of Atmanirbhar Bharat and the importance of attaining self-sufficiency in copper production to meet the forecasted demand, citing the example of self-sufficiency attained by Japan.

He further recommended on securing the copper ore supply, collaboration among the government and industry for overseas mineral asset acquisition, removal of inverted duty structure, promotion of organised recycling of scrap and review of the FTAs, upcoming as well as entered into.

The panel comprising of representatives from the Government and the industry, discussed on the facilitating role of Mineral Security Partnership and the recent amendments in the MMDR Act for the Indian copper industry. The panel also discussed on the emerging applications for the copper industry like renewables other than the traditional users like electricals etc.

Sanjeev Verma, Director, Ministry of Mines, stressed on the importance of adopting the advanced technology to produce valued added copper products. He also talked about the number of mines available in India and how it will have a direct impact on the production of copper ore, supporting the industry growth plans.

R Saravanabhavan, Deputy Adviser (Minerals), NITI Aayog, appreciated the well thought decision of the government to classify copper as the critical mineral, considering that the industry is a high-risk volatility market business.

He emphasized revisiting the FTAs so as to garner maximum advantage from them. He also said that there should be segregation between all the 30 critical minerals in terms of the policies formulated, SOP and growth path.

Jayanta Ranasingh, Business Development & Policy Advocacy, Hindalco Birla Copper focused on the importance of raw material security. “By 2025, India will have enough capacity as per the copper rods are concerned, however, there’s still potential for India to learn from other countries”, he stated.

Singh added that copper has an increasing demand in emerging sectors like EV but there is also a concern regarding the scarcity issues in the future and its impact on industry and the economy.

Mayur Karmarkar, Managing Director, International Copper Association, said, “Globally, the two focus elements are substitution and modernization.”

He added that with dematerialization, there has been an increase in the importance given to the new critical minerals and the aim should be to value add, meet the demand for electronic appliances, cellular production and other copper related products. Fiinews.com

Tags: FICCI
ShareTweetShare

Related Posts

FICCI
Manufacturing

Manufacturing: Framework on Drones by Sep-Oct

by Fiinews
July 6, 2025
0
15

Lt Gen Singh urged industry to invest more on component level R&D Lt Gen Rahul R Singh, Deputy Chief of...

Air Liquide
Manufacturing

Manufacturing: Air Liquide builds ASU-CFS

by Fiinews
July 5, 2025
0
13

Renard doubling production capacity in Gujarat Paris-headquartered Air Liquide is investing in a second Air Separation Unit (ASU) and a...

NITI Aayog

Manufacturing: India’s chemical sector faces challenges

July 5, 2025
21
Ericsson

Manufacturing: India benefits form global partners

July 2, 2025
18
Greenzo Energy

Manufacturing: Greenzo to invest in electrolyser

July 1, 2025
16
RRP S4E

Manufacturing: India to get Bulgarian technology

July 1, 2025
18
SBI YONO

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Tech: S!aP Cognus platform launched
  • Market: India gets full support of 2026 BRICS chair
  • Market: China steel imports down 47.7% in Apr-May
  • Export: India to ship non-GMO soybean to EU
  • Tender: Take care of new urban development

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.