Copper demand to skyrocket with shift to clean energy sources: HCL CMD
The demand for copper, a key component in electric vehicles, will go up substantially as the world shifts to cleaner energy sources to mitigate climate change, according to Hindustan Copper Chairman and Managing Director Ghanshyam Sharma.
By transitioning from fossil fuels to renewable energy sources like solar, wind, hydro, and geothermal, greenhouse gas emissions can be reduced significantly.
"As the world transitions to cleaner energy sources...the demand for copper will increase significantly as a vital component in electric vehicles and renewable energy technologies such as solar panels, wind turbines etc," the CMD said in a recent message on the company's website.
He further said the company has been given the charge of utilisation of the nation's copper resources in an efficient and sustainable way.
India, he said, is committed to achieving net zero emission by 2070.
According to ICRA, the domestic refined copper demand growth is expected to remain healthy at 11 per cent in