Adani Group Strengthens Copper Industry Ties with ICA Membership
Newzdaddy Business Updates
Synopsis of the Article:
- Kutch Copper Ltd, a part of the Adani Group, joins the International Copper Association (ICA).
- ICA, based in Washington D.C., represents half of the world’s copper production.
- Kutch Copper is a fully owned subsidiary of Adani Enterprises, located in Mundra, Gujarat.
- Adani Enterprises is investing $1.2 billion to establish a copper smelter with an initial capacity of 0.5 million tons per annum (MTPA).
- The facility will produce copper cathodes, rods, and other byproducts, aiding India in becoming self-reliant in copper production.
- Dr. Vinay Prakash, Managing Director of Kutch Copper, emphasized the importance of the ICA membership for sustainability and innovation.
- ICA President Juan Ignacio Díaz welcomed Kutch Copper and highlighted its role in global decarbonization efforts.
- ICA Chairman Stephen Rowland mentioned that Kutch Copper’s membership would promote sustainable practices.
- The second phase of Kutch Copper’s project will increase capacity to 1 MTPA, making it one of the largest custom copper smelters globally.
- Kutch Copper aims to maintain high ESG standards and plans to add copper tubes to its product line.
Adani Group’s Kutch Copper Joins International Copper Association
Kutch Copper Ltd., a division of the Adani Group, has made history by joining the International Copper Association (ICA) as its newest member. With 33 members from six continents and a headquarters in Washington, D.C., ICA is a well-known trade organization that represents half of the global copper output.
Kutch Copper is a wholly owned subsidiary of Adani Enterprises and is ideally situated near Mundra, Gujarat. With an estimated $1.2 billion investment, the corporation is presently working on a large project to build a cutting-edge copper smelter. This plant will produce copper cathodes, rods, and other byproducts with an initial production capacity of 0.5 million tonnes per annum (MTPA). India will become much less reliant on imported copper as a result of this endeavor, bringing the nation closer to producing its copper.
Kutch Copper’s managing director, Dr. Vinay Prakash, said he was thrilled to be a new member of the ICA. “India is poised to emerge as a significant force in the global copper market,” he stated. Kutch Copper can take part in innovation and sustainability projects in the copper industry by becoming a member of the ICA. We are excited to work with the international community to improve the value chain for copper, a metal that is necessary to achieve net-zero emissions.
Kutch Copper was welcomed to ICA by its president and CEO, Juan Ignacio Díaz. “Having Adani Metals Kutch Copper Ltd. on board makes us very happy,” he said. Their emphasis on creative and sustainable copper production is in line with our goal of highlighting the essential role copper plays in the infrastructure and technology required for global decarbonization.”
Glencore representative and ICA Chairman Stephen Rowland also expressed his support. He said, “Being a member of Kutch Copper bolsters our shared dedication to sustainable practices and the creation of innovative copper uses. We are eager to collaborate to promote constructive improvements in the sector.
The current project is only one aspect of Kutch Copper’s goals. The company intends to double its capacity to 1 MTPA by the end of the second phase. It will rank among the biggest single-location bespoke copper smelters in the world when it is completed. Using cutting-edge technology and digitization, the company is dedicated to maintaining high environmental, social, and governance (ESG) standards.
Kutch Copper plans to add copper tubes to its product line as part of its forward integration strategy, which will solidify its place in the world copper market.
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