Context:
In FY23, the demand for copper witnessed a substantial 16% year-on-year growth. This surge has prompted policymakers and corporations to recognize the pivotal role of copper in driving economic growth.
Relevance:
GS I: Mineral and Energy Resources
Dimensions of the Article:
- Key Points on Copper
- Hindustan Copper Limited (HCL)
- Copper’s Key Importance
About Copper:
- Attributes: Malleable, ductile metal with excellent heat and electricity conductivity, corrosion resistance, and antimicrobial properties.
- Malleability: Ability to be pressed or rolled into thin sheets without breaking.
- Ductility: Can be stretched into a thin wire without losing strength.
Applications:
- Widely used in construction, consumer durables, transportation, and industrial manufacturing.
- Integral to clean energy technologies like solar panels, electric vehicles (EVs), and energy-efficient motors.
- 100% recyclable, promoting a circular economy.
Occurrence and Composition:
- Naturally found in various forms in the Earth’s crust.
- Occurs in sulphide, carbonate, and silicate deposits, as well as in pure native form.
- Most commercial copper ore deposits globally have an average grade of 0.8%.
Mining Methods:
- Primary methods: Open-pit (80% global operations) and underground mining.
Copper Deposits in India:
- Mainly in Singhbhum (Jharkhand), Balaghat (Madhya Pradesh), Jhunjhunu, and Alwar (Rajasthan).
- Minor deposits in Agnigundala (Andhra Pradesh), Chitradurg, Hasan (Karnataka), and South Arcot (Tamil Nadu).
India’s Copper Appetite:
- Rising demand due to infrastructure projects, renewable energy initiatives, and urbanization.
- Heavy reliance on copper imports, prompting efforts to boost domestic production.
Hindustan Copper Limited (HCL):
- Formed in 1967, a Miniratna Category-I enterprise under the Ministry of Mines, Government of India.
- Vertically integrated copper producing company, consolidating exploration and exploitation projects.
Copper’s Key Importance:
- Economic Barometer: Reflects global economic conditions, influenced by demand/supply dynamics, monetary markets, and speculation.
- Energy Efficiency: Vital for energy-efficient buildings, reducing energy consumption in heating, cooling, and lighting.
- Sustainable Future: Contributes to sustainability by minimizing energy losses throughout a building’s lifespan.
-Source: Indian Express
