Adani's Kutch Copper Set to Launch Mundra Smelter Operations

02 Apr 2025 CW Team

Adani Group's Kutch Copper is poised to commence operations at its new copper smelter in Mundra, Gujarat, in the coming weeks. The initial phase features a 500,000-tonne capacity unit, expected to stabilize within the next two to three quarters. Subsequently, the company plans to double the production capacity to one million tonnes.

The expansion will require an estimated investment of USD 700-800 million (approximately Rs 58,100-66,400 million), bringing the total cost of the smelter to around USD 2 billion (approximately Rs 166 billion). Upon completion, the facility will rank among the largest single-location copper smelting operations globally.

Analysts project that the smelter could generate significant earnings before interest, tax, depreciation, and amortization (EBITDA) of USD 250-300 million (approximately Rs 20,750-24,900 million) annually, assuming a full-scale ramp-up by the next fiscal year.

Initially, the smelter will source its copper concentrate from Latin American countries. Efforts are underway to explore additional supply channels from Australia and Africa to diversify its raw material base. Approximately 40% of the copper produced will be allocated for the Adani Group's use, particularly in its expanding renewable energy and transmission sectors. Copper will also play a crucial role in the group's growing wires and cables business.

The second phase of the facility, aiming to further increase output, will likely be funded through cash flows generated from initial operations. However, the expansion decision is not expected to be finalized before fiscal year 2027.

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