China Doubles Down in Africa for Copper While India Quietly Makes Its Move
Both China and India are now jostling for exploration and mining rights across the African continent. Over the last decade, China has rapidly expanded its presence in Africa’s growing copper market, securing critical mineral supplies to fuel its green energy ambitions. With copper demand surging globally due to the growth of electric vehicles, renewable energy, and digital infrastructure, Beijing has intensified its investments across Zambia, the Democratic Republic of the Congo and Botswana.
Now it seems that India, too, has turned bullish on Zambia. In March of this year, it acquired a 9,000 sq. km greenfield block for copper and cobalt exploration in Zambia’s northwestern province. A few days ago, a team of Indian geologists was dispatched to assess the site’s commercial viability. The exploration phase is expected to last three years, during which sample analysis will be conducted in Indian labs.
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India Makes Moves to Boost Copper Production
Interestingly, all of this dovetails into India’s newly launched comprehensive policy push to boost domestic copper production. This new strategy involves offering incentives to foreign mining giants to establish smelters and refineries in India in exchange for investments by Indian state-owned firms in overseas copper assets.
Reports indicate that foreign companies, such as Chile’s Codelco and Australia’s BHP, may be invited to establish downstream copper facilities in India. In return, Indian public sector units will invest in their mining operations abroad, creating a mutually beneficial supply chain that spans the entire copper market.
India is currently the world’s second-largest importer of refined copper. The country has already imported 1.2 million metric tons (MMT) in FY 2025 thus far, a 4% year-on-year increase. Meanwhile, copper demand is projected to increase by about 3 MMT by 2030. For now, it seems clear that the Indian Government’s long-term vision for keeping the copper coffers full includes diversifying supply sources and acquiring foreign assets.
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Vedanta Plans to Shake Up Global Copper Market
Amid this global drive to mine copper, UK-headquartered mining conglomerate Vedanta Resources, led by Anil Agarwal, recently enlisted global engineering firm Worley to oversee a major expansion of its Zambian copper operations at Konkola Copper Mines (KCM). The move signals Vedanta’s renewed push into critical minerals like copper and cobalt due to surging global demand.
Worley, the Australia-based EPCM (engineering, procurement, and construction management) giant, will lead project management and collaborate with international experts to identify partners for mineral extraction and backward integration. According to news reports, the partnership aims to enhance operational efficiency and secure long-term critical mineral supply chains.
Vedanta plans to invest US $1 billion to scale up KCM’s production capacity to 300,000 tons of copper annually. Reports also indicate that the company is exploring multiple funding avenues, including the potential public listing of KCM in the United States. Talks are currently underway with investment banks, with New York emerging as a likely venue for the listing.
KCM is one of the world’s largest high-grade copper assets, positioning Vedanta as a key player in the global energy transition. While Worley will not contribute capital, its technical leadership is expected to accelerate project execution and attract global partners.
China Remains a Dominant Force
The race for copper and other resources between China, India and the rest of the world comes after Western nations, including Canada and the U.S., imposed restrictions on Chinese access to critical minerals. This prompted Beijing to double down on its African partnerships. For example, the Forum on China-Africa Cooperation recently unveiled a US $51 billion investment pledge, reinforcing the country’s long-term strategic intent in the African copper market.
China’s Belt and Road Initiative commitments to mining reached a record $21 billion in 2024. Chinese firms now control 8% of Africa’s total mining output, up 21% since 2019. Incidentally, experts believe over 50% of 2023 Chinese overseas mining investments targeted copper. This comes as the DRC now ranks as the world’s second-largest copper producer, overtaking Peru.
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