In a significant development that underscores a broader global trend, Vedanta Group Chairman Anil Agarwal has highlighted the growing strategic importance of copper, calling it the “next gold” in the context of the clean energy revolution and rapid technological advancement.
Speaking at a recent industry forum, Agarwal emphasized that copper is becoming a critical commodity as the world accelerates its transition towards renewable energy sources and electric mobility. “In the era of green energy and digital transformation, copper is becoming more valuable than ever. It is not just a metal—it is the backbone of clean energy infrastructure and electric vehicles,” he said.
The increasing relevance of copper comes amid a global surge in demand driven by the electrification of transportation, expansion of solar and wind energy, and massive data center growth. Copper’s conductivity, durability, and recyclability make it indispensable in building the technologies that define the future.
Global Mining Giants Pivot Towards Copper
Reflecting this shift, Barrick Gold, one of the world’s largest gold producers, has announced it will rebrand itself as simply “Barrick.” This rebranding marks a strategic transition from a sole focus on gold to a broader portfolio that includes copper as a core asset.
According to Barrick CEO Mark Bristow, the move reflects the company’s growing involvement in copper projects and its acknowledgment of copper’s central role in the future of mining. “Gold will always be a part of our DNA, but the future is electric, and copper will power that future,” Bristow stated during an investor presentation in April 2025 (Source: Financial Times).
Barrick is actively investing in copper mining projects across Africa and South America, aligning itself with a global mining industry trend that is witnessing the revitalization of old copper mines and exploration of new reserves to meet rising demand.
Opportunities for India and Its Entrepreneurs
Anil Agarwal’s Vedanta Group has long recognized the potential of copper. The company had previously operated the Sterlite Copper plant in Thoothukudi, Tamil Nadu, which was shut down in 2018 due to environmental and public concerns. However, recent discussions around India’s copper deficit have reignited calls for strategic domestic production.
India currently imports a large share of its copper requirements. With the global market turning towards copper, this reliance poses economic and strategic challenges. “India needs to rethink its copper policy,” said Agarwal. “We are sitting on opportunities that could make us self-reliant and a global supplier in this critical sector.”
Experts believe this global pivot offers a golden opportunity for Indian entrepreneurs, especially in mining, recycling, clean energy infrastructure, and electric vehicle manufacturing. With government support through initiatives like “Make in India” and “Atmanirbhar Bharat,” domestic copper production could see a resurgence.
Reviving India’s Copper Mining Landscape
India has several untapped copper reserves in states like Rajasthan, Jharkhand, and Madhya Pradesh. Industry stakeholders argue that with the right policies, India can both reduce import dependence and emerge as a copper hub in Asia. The revival of the Sterlite plant or the development of new mines through public-private partnerships could be vital steps in that direction.
Furthermore, the rising prices of copper, driven by global demand, present a lucrative incentive for both private and public investment. According to Bloomberg, copper prices are expected to climb steadily through 2030, driven by a shortfall in supply and a spike in usage in electric grids and battery technologies.
Conclusion
As the global narrative shifts towards sustainability and electrification, copper has undeniably emerged as a commodity of strategic significance—on par with, if not surpassing, gold in utility and value. The repositioning of industry giants like Barrick and the advocacy of visionaries like Anil Agarwal signal a new era for the metal, one that offers promising prospects for India’s industrial and entrepreneurial ecosystem.
