Vedanta’s Anil Agarwal sees copper as 'new super metal', urges Indian entrepreneurs to 'make it a mission'

Vedanta Group chairman Anil Agarwal on Friday said young Indian entrepreneurs and investors have a "great opportunity" in the copper sector, calling it the "new super metal" that will power the future of technology and infrastructure.

His comments come amid a global pivot towards copper as the biggest firms race to add the red metal to their portfolios in anticipation of looming shortages.

Barrick Gold Corp, the world’s second-largest gold producer, is proposing to rebrand itself as Barrick Mining Corp., signalling a strategic shift from bullion to base metals.

In a post on social media platform X, Agarwal said, “The world's second largest gold producer, Barrick Gold is rebranding to just Barrick. That is because it sees its future in copper.”

“Copper is the new super metal which is being heavily used in every advanced technology, whether EVs, renewable energy infrastructure, AI or defence equipment,” he said.

“Globally, copper mines are being revitalized, new smelters built. India has tremendous potential in critical and transition metals. A great opportunity for young entrepreneurs and investors. Let's make it a mission,” he added.

Barrick, which trades under the ticker “GOLD” on the New York Stock Exchange, is planning to invest USD 7 billion in a copper mine in Pakistan, with operations expected to begin in 2028 and run for at least four decades, according to Bloomberg News. The Canadian major is also expanding its presence in Zambia with what could become one of the world’s largest copper mines.

Mining analysts say the pivot reflects where the industry sees future growth. Forecasts show copper demand soaring in the coming decades while few new mines are being planned, reported Bloomberg .

“Barrick’s just really interested in copper now,” Bloomberg quoted Carey MacRury, a mining analyst with Canaccord Genuity Group Inc, as saying. “They haven’t really bought anything in gold, and they haven’t really built anything in gold since Bristow took over.”