India should recycle copper as a strategic intervention, says global copper body’s Indian arm

The International Copper Association India (ICAI) Managing Director, Mayur Karmarkar, has advocated for the strategic recycling of copper in the country to bolster stocks of the metal and avoid dependence on imports. Karmarkar argued that India should accumulate copper to ensure a steady supply at more affordable prices in the future.

China currently holds over 120 million tonnes of copper reserves, compared to India's 15 million tonnes, and the European Union's 80 million tonnes. According to Karmarkar, India's functional reserves per capita are low, making copper imports a costly endeavor. He suggested that recycling copper could prove more cost-effective than relying on underground reserves, which India lacks.

Karmarkar emphasized that the country should prioritize domestic production and minimize copper exports, stating that a family's incremental gold purchasing strategy could be applied to copper as well. He also highlighted the positive impact of copper recycling on the economy, as it would lower overall costs. Karmarkar further suggested that India's private and government companies should explore mining opportunities in other nations and establish government-to-government relationships to secure a consistent supply of copper.

Regarding the Madras High Court's consideration of permitting the Sterlite Group to operate a green copper plant in Thoothukudi, Karmarkar urged the Tamil Nadu government to reconsider the decision, deeming its preservation crucial for industrial growth.