India Secures Copper Exploration Block in Zambia for Strategic Minerals
The Government of India has obtained a 9,000 sq. km block in Zambia for copper and cobalt exploration, led by the Geological Survey of India. Zambia, bordered by several countries, is rich in minerals and is the seventh largest copper producer in the world. The demand for copper is rising due to its essential role in electric vehicle batteries and infrastructure development. India’s copper production is declining, necessitating the need for secure foreign reserves.
The Government of India has successfully secured a 9,000 square kilometer block in Zambia for the purpose of copper and cobalt exploration. This strategic initiative aims to bolster India’s access to critical minerals essential for its clean energy and electric vehicle (EV) battery industries. The Geological Survey of India (GSI) will oversee this pivotal project, contributing to India’s efforts in sustainable technological advancements.
Zambia, located in Southern Africa, is a landlocked country bordered by Angola, the Democratic Republic of the Congo, Tanzania, Malawi, Mozambique, Zimbabwe, Botswana, and Namibia. It encompasses significant geographic features such as the Zambezi, Kafue, and Luangwa Rivers. The country is renowned for its rich mineral deposits, specifically copper, cobalt, nickel, and uranium, greatly contributing to its economy.
The newly acquired copper exploration block by India is situated in Zambia’s Northwestern Province, where the country holds the distinction of being the seventh largest copper producer worldwide. Comparatively, Chile emerges as the leading global producer of copper, highlighting the competitive nature of copper mining.
The rising demand for copper is attributed to the accelerating growth of electric vehicle batteries and clean energy technologies, which require substantial amounts of this metal. Additionally, infrastructural development, defense sectors, and advanced electronics further drive global demand. Analysts project that a supply shortage could occur by 2035, prompting nations to secure copper reserves proactively.
In India, copper production has witnessed an 8% decline since 2018-19, with Hindustan Copper Ltd (HCL) being the sole government-owned producer in the sector. Key mines in India include the Malanjkhand mine in Madhya Pradesh, recognized as the largest open-pit copper mine; the Khetri mine in Rajasthan, notable for underground copper extraction; and the Singhbhum Belt in Jharkhand, known as one of the oldest areas for copper production.
India’s strategic acquisition of copper and cobalt exploration rights in Zambia is pivotal for enhancing its clean energy initiatives and securing vital mineral resources. As demand for copper surges, especially in electric vehicle technologies, this move serves to bolster India’s position in the global minerals market. Furthermore, addressing the domestic decline in copper production emphasizes the urgency for India to cultivate international partnerships and resource acquisitions.
Original Source: www.insightsonindia.com
