JSW Group plans to venture into copper concentrate production with an investment of ₹2,600 crore. The Group has bagged the mine operator and developer contract of two blocks of copper mines in Jharkhand from the state-owned Hindustan Copper.

The project involves operationalising the two mines and setting up of a copper concentrator plant, with the total capital investment of ₹2,600 crore, said the company in a statement on Monday.

Ore capacity

On full-scale ramp up, the mines will have an ore capacity of 3 MTPA and will become part operational in the second half of FY27.

The JSW Group secured the MDO contract through a competitive bidding process of the copper mines of HCL for 20 years and further extendable for next 10 years. Under the terms of the agreement, JSW will be responsible for the development of mines through capital expenditure and operational management including installation of concentrator plant of same capacity.

In return, HCL will provide technical support and receive a percentage of the revenue generated.

Strategic move

Parth Jindal, scion of JSW Group, said venturing into non-ferrous metals, particularly copper, is a strategic move for the JSW Group given the increasing demand for copper in sectors such as electric vehicles, renewable energy infrastructure, construction, electronics, telecommunications and healthcare.

“India is currently a major importer of copper concentrate; therefore, by developing domestic copper resources, we aim to support the country’s industrial growth and reduce dependency on imports,” he added.

JSW Group’s entry into the sector of copper mining underscores its commitment to play a leading role in India’s industrial growth and self-reliance in critical resources. By developing domestic copper resources, JSW aims to support the nation’s infrastructure development, technological advancement and transition to sustainable energy solutions.

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