Will Copper Become the Next Gold? Vedanta's Anil Agarwal Believes So

On Sunday, April 20, if you are attracted to gold and are ready to embrace a different future for gold. Vedanta Chairman Anil Agarwal believes copper is the next gold, a view he expressed on social media, bringing much anticipation to Indian entrepreneurs. Vedanta is a significant player in the global copper market. Under the leadership of Anil Agarwal, it holds a 36% market share in India. The company is preparing to expand internationally, launching a $2 billion copper processing division to meet the growing global demand for copper. The strong shift towards renewable energy and electric vehicles has driven the development of the copper industry. With the acquisition of Zambia's copper mine and smelting company Konkola (KCM), Vedanta has become a comprehensive integrated copper producer. Analysts have mixed views on the outlook for copper prices in 2025. Some analysts expect copper prices to hit record highs due to the shift to renewable energy and strong demand for electric vehicles, while others believe copper prices face downward pressure due to US tariff turmoil and other factors. **The Future of Copper** The Vedanta boss recently emphasized the growing strategic value of copper, calling it the "next gold" in the global shift to electric vehicles and clean, green energy. "Copper is the next gold," Agarwal wrote, mentioning that Barrick Gold, one of the world's largest gold producers, is proposing to remove "gold" from its name and focus on copper mining. Agarwal stated, "Copper is a new super metal, extensively used in all advanced technologies, whether in electric vehicles, renewable energy infrastructure, artificial intelligence, or defense equipment." The renaming of Barrick Gold is a significant development in the recent resurgence of the copper industry. The Canadian company stated in a press release on Friday, "We plan to change the company name from Barrick Gold Corporation to Barrick Mining Corporation to reflect the company's evolving production model." The Canada-based company has mining operations and projects in many countries, such as Argentina, Canada, Chile, Côte d'Ivoire, Congo, the Dominican Republic, Ecuador, Egypt, Mali, Pakistan, Papua New Guinea, Peru, Saudi Arabia, Senegal, Tanzania, the US, and Zambia. Agarwal pointed out that globally, copper mines are reviving, and new smelters are being built to meet the growing demand. He noted that in this context, India also has great potential in the field of critical and transition metals. To learn more about the dynamics of the copper industry chain, you are welcome to attend the CCIE 2025 SMM (20th) Copper Conference and Copper Industry Expo, hosted by SMM, which will be grandly held in Nanchang, Jiangxi from April 22-25, 2025. Over 3,000 industry elites, representatives from upstream and downstream enterprises of the copper industry chain, government leaders, industry associations, third-party equipment, logistics and warehousing, and university research experts will gather together. The conference covers mines, smelting, copper processing, trade, recycling, and end-use applications, encompassing the entire copper industry chain. At the conference, more than 100 exhibitors will showcase the latest copper processing and smelting equipment, high-quality raw material suppliers, and new-type copper-based materials, highlighting the innovation and vitality of the copper industry. The conference activities are rich and varied: the main forum focuses on global copper market trends, raw material supply, policy impact analysis, and market direction interpretation. Sub-forums delve into industry hotspots in areas such as electrical power transmission and distribution, secondary copper, copper-based new materials, hardware and plumbing, and ESS. During the conference, there will also be a two-day field trip to 12 representative enterprises in the copper industry, with a cumulative capacity of 1 million mt. Sharing cutting-edge technologies and valuable experiences will help upgrade the copper industry chain and promote high-quality industry development. The CCIE 2025 SMM (20th) Copper Conference and Copper Industry Expo will help you grasp the industry pulse, expand your network, and seek business opportunities! SMM cordially invites you to gather in Nanchang, Jiangxi from April 22-25, to unite in the new era of copper and jointly plan for new development!