Mumbai, June 1 -- Lloyds Metals and Energy Ltd is using copper to reduce its reliance on iron ore and India, as the company expands into steel and overseas mining assets in a bid to become a diversified global mining and metals player. "We aim to produce 100,000 tonnes of finished copper cathode and concentrate over the next five years across two locations, creating a business that could generate nearly $1.3 billion in revenue," managing director Rajesh Gupta told Mint on May 19. "It's still a smaller part of the business, but a very essential part of the business, because it's also de-risking from one commodity or one location," he added. The strategy centres on copper mining assets in the Democratic Republic of Congo (DRC), which Lloyds a...