Core Insights - India's investment in Peru's copper sector is being driven by conglomerate Adani and miner Hindalco Industries, focusing on acquiring stakes in existing mines or forming joint ventures [1] - Peru, as the third-largest copper producer, is actively seeking new investments while negotiating a free trade agreement with India [2] Group 1: Investment Opportunities - Adani and Hindalco are in the initial stages of exploring investment opportunities in Peru's copper sector, with Adani having sent a delegation earlier this year [3] - The Indian government is encouraging domestic mining companies to invest abroad to secure copper supply chains, as outlined in a policy document released in July [3] Group 2: Copper Demand and Supply - India's copper imports increased by 4% to 1.2 million tonnes in the fiscal year ending March 2025, with demand projected to reach 3–3.3 million tonnes by 2030 and 8.9–9.8 million tonnes by 2047 [5] - According to the Ministry of Mines' Copper Vision Document 2025, India may need to source 91–97% of its copper concentrate requirements from overseas by 2047 [4] Group 3: Foreign Investment in Peru - In 2024, Peru produced approximately 2.7 million tonnes of copper and attracted $4.96 billion in foreign investment in the sector [2] - Ongoing discussions between India and Peru include a detailed chapter on copper in free trade negotiations to secure a fixed volume of copper concentrate [5]