Soaring demand for copper will help drive mergers, BHP CEO says
Demand for copper, a key element in the energy transition, is set to rise by 70% to 100% by 2050, Mike Henry said
Indian state copper miner Hindustan Copper is in the initial stages of an $800 million expansion program, Resources Monitor reported Tuesday.
Currently, Hindustan produces around 40,000 tonnes of copper per year, but the company plans to increase production to around 200,000 tonnes by 2025.
Construction is underway at a major new underground mine in the state of Madhya Pradesh, according to Resources Monitor, and expansions are planned at its operations in the states of Jharkhand and Rajasthan.
Hindustan Copper’s production of 40,000 tonnes is only a small proportion of the 650,000 tonnes that India used last year domestically in the electrical, construction and transport industries, the report reads.
