The Live Ahmedabad
  • Home
  • Ahd City
  • Business
  • Entertainment
  • Education
  • Crime
  • Health
  • Politics
  • Sports
  • Featured

The Live Ahmedabad

  • Home
  • Ahd City
  • Business
  • Entertainment
  • Education
  • Crime
  • Health
  • Politics
  • Sports
  • Featured
Nation

Gautam Adani Secures Ore for $1.2 Billion Copper Smelter In Gujarat’s Mundra

by TLAteam February 10, 2024February 10, 2024
written by TLAteam February 10, 2024February 10, 2024
Gautam Adani Secures Ore for $1.2 Billion Copper Smelter In Gujarat’s Mundra

Billionaire Gautam Adani’s conglomerate has signed contracts to buy 1.6 million tons a year of copper concentrate for the world’s largest single-location smelter for the industrial metal.

The first 500,000 tons of capacity at the $1.2 billion facility in Mundra in Gujarat is set to start operations next month, according to Vinay Prakash, chief executive officer at Adani Natural Resources. This will be expanded to 1 million tons by March 2029 to cater for a forecast doubling of Indian copper demand by the end of the decade, he said.

Adani Enterprises Ltd., the port-to-power conglomerate’s flagship company, is seeking resource security in critical minerals and is resuming capital expenditure now that its shares have stabilized after a short-seller attack in January 2023. The smelter is starting up just as the global copper market experiences a collapse in the fees that processors charge miners because there’s not enough ore to go around.

A combination of high operating costs and the low fees means smelters and refiners globally may be forced to curtail production, Prakash said. “Our plant will be a low-cost producer with higher metal recovery and this will help us to remain competitive in the market.”

The concentrate deals are a mix of short- and long-term arrangements, Prakash said, without disclosing the suppliers. Concentrate supply is likely to increase in the medium- to long-term as more mining projects, including in Africa and Peru, come on stream, he said.

0 comment
previous post
Ambika Flyover to remain closed for 10 days
next post
Ahmedabad airport achieves 10 million passenger milestone

You may also like

Is Climate Change Making Flying Riskier?

May 27, 2025

Lab-Grown Diamonds Get Popular as Gold, Natural Diamond...

May 27, 2025

Ayushman Vay Vandana Card Brings ₹5 Lakh Health...

May 26, 2025

Sensex Jumps Over 500 Points, Nifty Close to...

May 26, 2025

Sachkhand Express: The Only Train in India That...

May 25, 2025

CBSE Mandates Use of Mother Tongue or State...

May 25, 2025

India Surpasses Japan to Become World’s Fourth-Largest Economy:...

May 25, 2025

Major Outage on X Stops Users from Posting...

May 24, 2025

Adani Group to invest ₹1 lakh crore in the North-east

May 24, 2025

Traffic diversions for PM Modi’s Ahmedabad roadshow

May 24, 2025

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Recent Posts

  • Acer Launches Special Back-to-School Promotions Across Exclusive Stores

    May 27, 2025
  • Airtel introduces India’s First All-in-One OTT Entertainment Packs for Prepaid Users  

    May 27, 2025
  • ITR Filing Deadline for AY 2025-26 Extended to September 15 for Non-Audited Taxpayers

    May 27, 2025
  • 2.Oh! range now available on Nykaa!

    May 27, 2025
  • Oriental Trimex Ltd Transforms Business Operations in FY25 Revenue Surges over Fourfold in Q4

    May 27, 2025
February 2024
MTWTFSS
 1234
567891011
12131415161718
19202122232425
26272829 
« Jan Mar »
Footer Logo
  • Home
  • Ahd City
  • Business
  • Entertainment
  • Education
  • Crime
  • Health
  • Politics
  • Sports
  • Featured
  • Privacy Policy
  • Disclaimer
  • Cookie Policy
  • Terms of use
  • Advertise with Us
  • Work With Us
  • Contact Us

© 2021 - The Live Ahmedabad. All Rights Reserved.