Kutch Copper Ltd Joins International Copper Association
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Synopsis
On January 16, Kutch Copper Ltd, part of the Adani Group, became a member of the International Copper Association, enhancing its role in the global copper industry and emphasizing its commitment to sustainability and innovation.
Key Takeaways
- Kutch Copper Ltd is now a member of the International Copper Association.
- The company is located in Mundra, Gujarat.
- Adani Enterprises is investing $1.2 billion in a copper smelter.
- The facility will produce copper cathodes and byproducts.
- Kutch Copper aims to support India's goal of self-reliance in copper.
Washington, Jan 16 (NationPress) Kutch Copper Ltd, a company under the umbrella of the Adani Group, has officially become a member of the International Copper Association (ICA) as its latest addition.
Based in Washington DC, the ICA is a non-profit trade organization that represents around half of the world's copper production, boasting 33 members spanning six continents.
Situated strategically in Mundra, along the coast of Gujarat, Kutch Copper operates as a wholly-owned subsidiary of Adani Enterprises, the group's flagship incubator. Adani Enterprises is channeling approximately $1.2 billion to build a copper smelter with an initial capacity of 0.5 million tons per annum (MTPA) during its first phase.
The cutting-edge facility at Kutch Copper will also manufacture copper cathodes, rods, and various other byproducts, making a significant impact on India's ambition to achieve self-sufficiency in copper production.
Expressing his positive outlook regarding the ICA membership, Vinay Prakash, Managing Director of Kutch Copper, stated: "India is on track to become a major hub for copper and its derivatives in the years ahead. We are confident that Kutch Copper's affiliation with the ICA will enable us to play an active role in sustainability efforts and foster innovative products and applications in the copper industry. We eagerly anticipate working alongside the global copper community to enhance the value chain for this critical metal, which is essential for the transition towards net zero."
ICA President and CEO Juan Ignacio Díaz conveyed his excitement for the new collaboration, saying: "We are thrilled to welcome Adani Metals Kutch Copper Ltd. into our network. Their commitment to advancing sustainable and innovative copper production reinforces our collective goal to promote, protect, and defend copper's vital role in facilitating the technologies and infrastructures necessary for global decarbonization. Their presence is particularly exciting as we aim to bolster copper's growth in regions where its key applications are expanding."
ICA Board Chairman Stephen Rowland of Glencore remarked: "KCL's membership in ICA enhances our dedication to advocating sustainable practices and developing new uses for copper. We are eager to collaborate with them and support their initiatives to drive positive industry changes."
Upon successfully completing the second phase, which will double its capacity, Kutch Copper will reach a total capacity of 1 MTPA, establishing itself as one of the largest custom copper smelters located in a single site globally. The company is devoted to adhering to high environmental, social, and governance (ESG) performance standards while utilizing advanced technology and digitalization. Kutch Copper is also aiming to expand its portfolio by adding copper tubes as part of its forward integration strategy.
