India to Explore for Copper in Zambian Block.

• India has obtained a 9,000-square-kilometer exploration block in Zambia, a leading global copper producer, to search for copper and cobalt.
• Global Copper Market Trends:

1. Shrinking supply of copper ore (Bloomberg report).
2. China controls 50% of global smelting & refining capacity.
3. High demand drivers: EV batteries, renewable energy, and clean tech.
4. Top producers: Chile, Peru, China, DRC, U.S.
5. Geopolitical race: India, China, and the U.S. securing supply chains.

• India’s Copper Situation:

3. Domestic Production (2023-24): 3.78 million tonnes (8% lower than 2018-19).
4. Top producing states: Madhya Pradesh, Rajasthan.
5. Copper Imports: Doubled to ₹26,000 crore (2023-24 vs. 2018-19).
6. Challenges: Large deposits require extensive exploration before mining (avg. 17 years for a copper mine).
7. Overseas Strategy: Investments in Zambia, Chile, DRC to meet demand, but with geopolitical risks.

• Africa’s Role in Critical Minerals:

1. Produces 70% of global cobalt & 16% of global copper.
2. DRC: Poised to be 2nd-largest copper supplier by 2030.

India’s Efforts: Ministry of Mines working in DRC, Tanzania, Mozambique, Rwanda to acquire mineral assets.