Renewable energy, Infra and EV to drive copper demand in India : Hindustan Copper

By admin Last updated Jul 12, 2024

Q1. How do you see copper demand in lndia this year and the next year? How much will it grow year on year?

Ans: The copper demand in lndia will grow in line with the growth of major copper demand driver sectors such as i) Renewable energy & infrastructure sector, ii) EV & transportation sector iii) Building & construction sector due to increased rate of urbanization etc. Analyst suggests that there will be double digit growth in these sectors in short term. Accordingly, copper sector growth is expected to be in double digit.

Q2. Which are the sectors that will drive demand for copper in lndia?

Ans: The sectors which will drive the demand of copper in lndia are Renewable energy, infrastructure, EV & transportation, Building & construction, industrial, Electronics & Telecommunication, consumer durable sectors etc.

Q3. What are your company’s plans for copper production this year? How much growth are you expecting in copper production?

Ans: Additional production from Eastern sector may be expected during the current financial year.

Q4: Are you planning any new investments to increase copper production to meet demand? How much investment are you planning to make?

Ans: HCL is continuously investing in its ongoing mine expansion plan. Although this year capex target is Rs.35O Crore, it is expected that the company may exceed the target like last year. ln addition to that HCL has floated tender for appointment of MDO at Rakha Mine, the finalization of which will pave the way for fresh investment in the HCL owned mine in the Eastern Sector.

Q5: Do you think copper demand in lndia will outpace global demand? lf so’ how?

Ans: The current per capita refined copper consumption in lndia is around 0.5 Kg whereas average world refined copper consumption is around 3.2 Kg/capita hence there is huge gap. ls lndia is in an aggressive growth path and expecting double digit growth, the copper demand in lndia will definitely will outpace the global demand.