India has a history of copper usage from copper age. But for the last 3 decades, it was only Hindustan Copper Ltd, producing 3% of world copper in India. Now, we have 3 companies viz. Hindustan Copper, Sterlite Industries, Hindalco produce copper making India a net exporter from importer few years back.
In India, copper usage stems from 30% for cable for telecom and 26% for power equipment. Automobile Sector also consumes copper around 11%.
Sterlite Industries Ltd, purchased the United States’ third largest copper producer, Asarco, for $2.6 billion. This kind of business move has helped not only to further cultivate India’s global presence in the copper industry, but has also help in the growth of the country’s domestic copper industry.
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