Kolkata: If you are attracted by gold, be prepared for the a different gold in future. Anil Agarwal, chairman of Vedanta believes that copper is the next gold and has stated it on social media, holding out a lot of promise for Indian entrepreneurs.
Vedanta is a significant player in the global copper market. Led by Anil Agarwal, it enjoys a 36% market share in India. The company is set to expand internationally, rolling out a $2 billion copper processing unit which will cater to the rising global demand for the metal. The tailwinds to the copper industry is led by the aggressive shift to renewable energy and electric vehicles. With the acquisition of Konkola Copper Mines, a copper mining and smelting company in Zambia, Vedanta has turned into a fully integrated copper producer.
Incidentally, copper price projections for 2025 are mixed. Some analysts have predicted record highs driven by robust demand from the shift to renewable energy and electric vehicles, while some apprehend downward pressure from US tariff turmoil and other factors.
Super metal of the future
However, the Vedanta boss recently underscored copper’s growing strategic value and termed it as the “next gold” in a world intent on transitioning to electric vehicles and clean, green energy. “Copper is the next gold,” Agarwal wrote and mentioned how Barrick Gold, which is a gold producing company based in Canada and one of the largest in the world is dropping the world gold from its name and marking an emphasis on copper mining. “Copper is the new super metal which is being heavily used in every advanced technology, whether EVs, renewable energy infrastructure, AI or defence equipment,” Agarwal said. “A great opportunity for young entrepreneurs and investors. Let’s make it a mission,” wrote Agarwal.
One of the significant recent developments that suggest buoyancy in the copper sector is the name change of Barrick Gold Corporation. This Canada-headquartered company has mining operations and projects in numerous countries such as Argentina, Canada, Chile, Côte d’Ivoire, Congo, Dominican Republic, Ecuador, Egypt, Mali, Pakistan, Papua New Guinea, Peru, Saudi Arabia, Senegal, Tanzania, the US and Zambia. The company said this week that they are dropping the world gold from the name and turning itself into Barrick Mining Corporation to finetune its business model and focus on copper mining. Incidentally, Barrick Mining Corporation is the second largest gold producer in the world.
Incidentally, one can invest in copper commodity futures in India through the Multi-Commodity Exchange and one needs to open a commodity trading account with a broker. However, one should do so only after consultation with a qualified commodity investment expert.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO, mutual funds, precious metals, commodity, any form of alternative investment instruments and crypto assets.)
Copper is increasingly being viewed as a metal with a bright future, with robust demand from renewable energy and electric mobility in different countries providing tailwinds to the sector. Companies Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
