JSW Group has announced its plans to enter into the production of copper concentrate with an investment of ₹2,600 crore. The Group has secured the mine operator and developer contract for two copper mines in Jharkhand from Hindustan Copper, a state-owned company.
The project will involve the operation of the two mines and the establishment of a copper concentrator plant, with a total capital investment of ₹2,600 crore. The mines are expected to have an ore capacity of 3 MTPA once fully ramped up, and are projected to become partially operational in the second half of FY27.
JSW Group won the MDO contract through a competitive bidding process for a duration of 20 years, with a provision for extension for an additional 10 years. As per the agreement, JSW will be responsible for the development of the mines, including the installation of a concentrator plant with the same capacity. In return, Hindustan Copper will provide technical support and receive a percentage of the revenue generated.
Parth Jindal, a member of the JSW Group, stated that entering the non-ferrous metals sector, particularly copper, is a strategic move considering the growing demand for copper in various industries such as electric vehicles, renewable energy infrastructure, construction, electronics, telecommunications, and healthcare. He emphasized that by developing domestic copper resources, the Group aims to support India’s industrial growth and reduce dependence on imports.
The Group’s foray into copper mining highlights its commitment to playing a significant role in India’s industrial expansion and self-sufficiency in essential resources. By developing local copper resources, JSW aims to bolster the nation’s infrastructure development, technological progress, and shift towards sustainable energy solutions.
