Policy Changes and Govt Support for Copper
Growth drivers ahead
- Copper use to double by 2030 and 5x by 2047.
- EVs, renewables, and grids fuel demand.
- Per-capita use targets 5.4–6.0 kg.
- Add ~1 MT refining every 5 years.
Recycling-led expansion
- Secondary share: 24% → 40% → >55% by 2030.
- Market value: $6.5B → $13.7B by FY30.
- Mandate: 20% recycled content by FY31.
- Scrap pool: 2.0–2.4 MMT by FY47.
Policy and capacity tailwinds
- Zero duty on scrap; concentrate BCD at 0%.
- QCO, RCM, critical-minerals thrust.
- Smelting/refining to ~3.785 MT by 2035.
- Formalized, compliant recycling at scale.