According to the Mining Journal, the trade war may bring opportunities to India, as the country's copper consumption is expected to grow.
Chilean Minister of Mining Aurora Williams and Codelco President Maximo Pacheco, who recently returned from a visit to India, expressed their impression of the country at the International Copper Association meeting held in Santiago.
India, the world's fifth-largest economy, consumes 900,000 mt of copper annually, accounting for 1/30 of the global market capacity of 27 million mt. However, economists predict that by 2028, its GDP will jump to the third position, and copper consumption will also rise significantly.
"Currently, India's per capita copper consumption is 0.7 kg, while the world average is 3.5 kg. We believe India has great growth potential. I visited a $100 billion solar-wind power complex project, which covers an area as large as Paris. India is electrifying, which will generate huge copper demand," said Pacheco.
Hindalco CEO Rohit Pathak stated that India has no import tariffs on copper concentrates, and this policy will not change.
"The era of globalization is over, but copper remains a global commodity. India will not impose new tariffs, and Chilean copper is welcome," he said.
Experts believe that the global copper mining industry faces challenges in the development costs of new capacities, which require shortening permit times and enhancing collaboration.
"The copper market is positive in the long term, and 80 new copper mines similar to Los Bronces will be needed by 2040. With an average investment intensity of $30,000/mt, we need to share infrastructure to achieve synergy. The agreement between Anglo American and Codelco on Los Bronces shows that this is very important for Chile and the industry, as it allows for significant production increases without new massive investments by utilizing existing infrastructure and enhancing intelligence," said Anglo American Executive Director Patricio Hidalgo.
Minister Williams stated that cooperation must be cross-sectoral and between public and private entities, as achieving sustainability means participants must work closely together. "Mining progress has brought substantial advances to Chile. We are on the right path but need to leverage synergies so that these regions can develop in sync with mining," she said.
Codelco President Pacheco candidly discussed the challenges of developing projects individually, especially when multiple projects are developed simultaneously.
"The difficulty lies in implementing innovation. Codelco made a mistake by pushing four major structural adjustment projects simultaneously. Project organization was challenging, and costs increased significantly," he said.
Using Hindalco's aluminum business as an example, Pathak explained how synergy can solve major difficulties and open new markets. "Red mud waste is a big problem in the aluminum industry. We collaborated with the cement industry to fully recycle it, and now we have zero landfill. We are the first aluminum company globally to do this," he said.
To learn more about the dynamics of the copper industry chain, you are welcome to attend the CCIE 2025 SMM (20th) Copper Industry Conference and Copper Industry Expo, hosted by SMM, which will be grandly held in Nanchang, Jiangxi, from April 22-25, 2025. CCIE 2025 SMM (20th) Copper Industry Conference and Copper Industry Expo ~
Over 3,000 industry elites, representatives from upstream and downstream enterprises of the copper industry chain, government officials, industry associations, third-party equipment, logistics and warehousing, and academic 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 features a variety of exciting activities: the main forum focuses on global copper market trends, raw material supply, policy impacts, and market directions. Sub-forums delve into specific areas such as electrical power transmission and distribution, secondary copper, copper-based new materials, hardware and plumbing, and ESS, exploring industry hot topics. 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, to share cutting-edge technologies and valuable experiences, helping to upgrade the copper industry chain and promote high-quality industry development.
CCIE 2025 SMM (20th) Copper Industry Conference and Copper Industry Expo helps 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!
