Copper, a rapidly emerging cornerstone of the global energy and technology transition experiences soaring demand as nations push toward a cleaner energy and advanced digital infrastructure. While experts highlight its growing importance and India’s potential leadership, supply challenges threaten to reshape global markets and pricing trends.
Vedanta Group Chairman, Anil Agarwal states that copper has always been linked to the progress of human civilization. “Copper has a very close association with the advance of human civilisation, and our ancient India. Around 6,000 years ago, the Indus Valley Civilisation, one of the world’s first great civilisations, came up in the Copper Age, when we learnt to use the red metal for the first time. I believe we are now entering a New Copper Age,” he said. According to him, the technologies of the future, including artificial intelligence and the global shift to clean energy, depend heavily on copper. He believes that India has the potential to lead the world in copper production.
Supporting this view, analyst Sujay U added that copper could redefine global wealth in the next five to ten years and that, the world cannot build its future without the red metal.
Copper plays a key role in electric vehicles, solar panels, charging infrastructure, power grids and data centres. It is also used extensively in power generation, electronics and construction. The United States has included copper among the ten minerals critical for its economy and national security, with plans to strengthen domestic mining and reduce dependence on imports.
Supply challenges remain as Grasberg, one of the largest copper mines in Indonesia, has been hit by floods and accidents, sparking fears of a production shortfall of over 600,000 tons by 2026. Opening new mines can take up to 15 years, and many existing ones face declining ore quality. These issues have driven market concerns, propelling copper prices up by 3 to 3.5 percent in a single day. Financial giants Goldman Sachs and Citi expect copper prices to climb to between 11,000 and 14,000 dollars per ton in the coming years, signalling a possible rise of 20 to 50 percent.
This rising need for copper marks the beginning of a new era of growth and innovation for the world. It shows how vital this metal will be in building a smarter, stronger, and more sustainable future.
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