JSW Group announced that it will invest ₹2,600 crore to develop two copper mines and establish a copper concentrator plant in Jharkhand.
This marks the company’s entry into the copper business, aligning with its broader strategy of diversification and growth.
Strategic Expansion into Copper Mining
The investment will play a crucial role in enhancing India’s position in securing critical resources.
JSW Group has secured a significant contract to operate and develop two copper mines in Jharkhand, which were awarded by Hindustan Copper Ltd (HCL).
The expansion into non-ferrous metals signals the group’s commitment to diversifying its business operations.
Project Details and Timeline
The project involves operationalizing two copper mines and constructing a concentrator plant.
The estimated capital investment for the entire project stands at ₹2,600 crore. Upon reaching full-scale production, the mines will have an annual ore capacity of three million tons.
The mines are expected to be partially operational by the second half of fiscal year 2026-27.
Long-Term Agreement and Operational Management
JSW Group secured the 20-year mine operator and developer (MDO) contract through a competitive bidding process.
The agreement also allows for a potential ten-year extension.
As part of the deal, JSW will handle the development and operational management of the mines, including the installation of the concentrator plant.
In return, Hindustan Copper Ltd (HCL) will provide technical support and receive a percentage of the generated revenue.
Supporting India’s Growing Demand for Copper
Parth Jindal of JSW Group highlighted the increasing demand for copper in critical sectors such as electric vehicles, renewable energy, telecommunications, healthcare, and construction.
India is a major importer of copper concentrate. This initiative aims to reduce the country’s reliance on imports. It seeks to tap into domestic copper resources, thereby supporting industrial growth.
About JSW Group
As reported by msn.com, JSW Group has a diverse presence across various sectors. These sectors include steel, energy, cement, infrastructure, paints, automobiles, defence, mining, venture capital, and sports.
