Peru, the world's third-largest copper producer, sees growing interest from Indian firms as both countries work toward a comprehensive free trade agreement. Copper from Peru is widely used in electrical wiring, construction, and manufacturing.
"Birla (Hindalco) and Adani are trying to invest in Peru. We are willing to facilitate," Javier Paulinich, Peru's ambassador to India, told Reuters during an interview in New Delhi.
In 2024, Peru produced approximately 2.7 million metric tons of copper and received $4.96 billion in foreign direct investment in its mining sector. An Adani delegation visited Peru earlier this year, while Hindalco has also begun preliminary outreach.
"They are in the first stage, trying to find out opportunities," Paulinich said of the two companies.
India, the second-largest importer of refined copper globally, is encouraging its enterprises to secure overseas mineral resources to support long-term supply needs. Official projections indicate the country may need to import 91%–97% of its copper concentrate requirements by 2047 as domestic demand rises sharply with economic growth.
India's copper imports reached 1.2 million metric tons in the fiscal year ending March 2025, up 4% year-on-year. Consumption is forecast to increase to 3–3.3 million tons by 2030 and further to 8.9–9.8 million tons by 2047, according to government estimates.
As part of the ongoing free trade negotiations, India has proposed including specific provisions on copper to ensure stable access to concentrate supplies from Peru.
"It is in final stages," Paulinich said of the overall agreement, noting that the next round of talks is scheduled for January and a possible conclusion could come by May.
Adani Group previously indicated it would source copper concentrate from multiple countries, including Peru, Chile, and Australia, for its new $1.2 billion smelter—the world's largest single-location copper refining facility. Neither Adani nor Hindalco responded to requests for comment on their current plans in Peru.
