Major Indian conglomerates, the Adani Group and miner Hindalco Industries, are actively exploring opportunities to acquire stakes in Peruvian copper mines or form strategic joint ventures. This targeted initiative, driven by a need to secure long-term mineral supplies, underscores a calculated move by key Indian industrial players to directly invest in raw material sources abroad.
Their focus on established mining assets reflects a desire to mitigate future supply risks and gain greater control over a commodity critical to India's infrastructure and renewable energy ambitions.
As the world’s second-largest importer of refined copper, India faces pressing supply chain vulnerabilities amidst soaring domestic demand and persistent global market volatility. Peru, being the world's second-largest copper producer, presents a strategic destination for these investments, offering access to high-quality reserves.
This push into Peru not only aims to bolster India's industrial supply chains but also positions the country in the broader geopolitical contest for resource security, as nations globally scramble to secure stable supplies of energy-transition metals.
Peru’s Ambassador to India, Javier Paulinich, told Reuters that both the Adani Group and Hindalco (part of the Aditya Birla Group) are exploring investment opportunities in Peru. “We are willing to facilitate,” he said, confirming that Adani had sent a delegation earlier this year and that Hindalco has undertaken similar exploratory efforts.
“They are in the first stage, trying to find out opportunities,” Paulinich remarked, referring to both Indian conglomerates. Read more...
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