JSW Group has announced plans to invest Rs 2,600 crore in the development of two copper mines
JSW Group announced on Monday its plan to invest Rs 2,600 crore in the development and operation of two copper mines and the establishment of a copper concentrator plant in Jharkhand. This significant investment marks JSW Group’s entry into the copper business, demonstrating its commitment to diversification and growth.
The project will involve the operationalization of the two mines and the construction of a copper concentrator plant, with a total capital investment estimated at INR 2,600 Crores. Once fully operational, the mines will have an ore capacity of 3 MTPA, with expectations for partial operation in the second half of the financial year 2026-27 (H2 FY27).
This strategic move signifies JSW Group’s expansion into the non-ferrous metal sector, aligning with its vision to diversify and meet the growing demand for essential metals in high-growth industries, as stated in a company release.
The Group secured the MDO contract for the copper mines of HCL through a competitive bidding process for 20 years, extendable for an additional 10 years. Under the agreement, JSW will be responsible for mine development, capital expenditure, and operational management, including the installation of a concentrator plant of the same capacity. In return, HCL will provide technical support and receive a percentage of the revenue generated.
Parth Jindal, representing this Group, emphasized the strategic importance of venturing into non-ferrous metals, particularly copper. The growing demand for copper in sectors such as electric vehicles (EVs), renewable energy infrastructure, construction, electronics, telecommunications, and healthcare presents a significant opportunity. India currently relies heavily on copper imports, making the development of domestic copper resources crucial to supporting industrial growth and reducing import dependency.
The Group’s foray into the copper mining sector highlights its dedication to taking a prominent position in India’s industrial expansion and self-sufficiency in essential resources. By harnessing domestic copper reserves, Its aims to bolster the country’s infrastructure development, technological progress, and shift towards sustainable energy solutions.
Headquartered in Mumbai, the JSW Group boasts a strong presence in various sectors including steel, energy, cement, infrastructure, paints, automobiles, defense, mining, venture capital, and sports.
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