India has secured 9,000 sq. km for copper and cobalt exploration in Zambia, vital for its clean energy initiatives. Zambia, a significant player in global copper production, is rich in minerals and geographically diverse. Rising copper demand due to EVs and technology is prompting countries to secure reserves, with India facing a domestic production decline.
The Government of India has acquired a 9,000 sq. km area in Zambia aimed at exploring copper and cobalt, a strategic step for securing important minerals essential for technological advancement. The project will be executed by the Geological Survey of India (GSI), playing a critical role in supporting India’s clean energy initiatives and its electric vehicle (EV) battery sector.
Located in Southern Africa, Zambia is a landlocked country that shares borders with Angola, the Democratic Republic of the Congo (DRC), Tanzania, Malawi, Mozambique, Zimbabwe, Botswana, and Namibia. It is characterized by significant geographic features such as the Zambezi, Kafue, and Luangwa rivers, along with the Nyika Plateau and Mafinga Hills, contributing to its rich natural resources.
Zambia is notably rich in minerals, including copper, cobalt, nickel, and uranium, with the Northwestern Province being the site of India’s new copper exploration block. As the seventh-largest global copper producer, Zambia plays a critical role in the global copper market, where Chile holds the top position.
The demand for copper is on the rise due to its essential use in electric vehicle batteries and clean energy technologies, leading to a projected shortage by 2035. This situation is prompting countries to strategically secure their copper reserves, reflecting increased global dependency on this metal for infrastructure, defense, and advanced electronics.
India’s domestic copper production has seen an 8% decline since 2018-19, with Hindustan Copper Ltd (HCL) being the sole government-owned producer. Key mines in India include the Malanjkhand mine in Madhya Pradesh, the Khetri underground mine in Rajasthan, and the Singhbhum Belt in Jharkhand, one of the oldest copper extraction regions in the country.
India’s strategic acquisition in Zambia aims to enhance its access to critical minerals like copper and cobalt, vital for clean energy and EV battery production. As global demand for these metals surges, countries are increasingly securing resources to combat anticipated shortages. This relationship could bolster India’s position in the global market despite its declining domestic production.
Original Source: www.insightsonindia.com
