Adani’s Kutch Copper nears Rs. 30,000 crore copper sourcing deal with BHP

Gautam Adani-controlled Kutch Copper is reportedly in discussions with Australian mining giant BHP to secure a substantial copper concentrate supply. The potential agreement could involve up to 1.6 million tonnes per annum (mtpa) of copper concentrate, according to a report by The Economic Times.

The deal is projected to be worth nearly Rs. 30,000 crore per year based on current market rates, though the final value may fluctuate due to copper price volatility. Both companies are said to be finalising the details of the supply agreement, the report said.

As of November, copper prices on the London Metal Exchange (LME) are around $9,474 per tonne. Market forecasts predict an increase, with prices expected to rise to US$ 9,715 per tonne within the next three months and potentially surpass US$ 10,000 per tonne by December 2025, the news report mentioned.

Kutch Copper, a subsidiary of Adani Enterprises Ltd, commissioned the first unit of its copper refinery project in Mundra earlier this year, further solidifying its position in the industry.

Adani Enterprises is investing nearly US$ 1.2 billion to establish a copper smelter with an initial capacity of 0.5 mtpa. A second phase, set to double the capacity to 1 mtpa, is planned. Upon completion, Kutch Copper will be home to the world’s largest custom copper smelter at a single location, the report said. (BS)

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