JSW Group has announced a $301 million (Rs 26 billion) investment to develop and operate two copper mines, along with a copper concentrator plant, in Jharkhand, India. The group secured the contract for this project through a competitive bidding process, committing to a 20-year term with the possibility of a 10-year extension, awarded by Hindustan Copper Limited (HCL).
This venture marks JSW’s entry into the copper sector and its broader strategy of diversifying into non-ferrous metal mining. Once fully operational, the mines are expected to have a capacity of 3 million tonnes of ore per year, with partial operations anticipated to start by the second half of 2026–27. The project includes both the development of the mines and the establishment of a concentrator plant with the same ore capacity.
Under the terms of the agreement, JSW will be responsible for the capital investment and operational management, while HCL will provide technical support and share in the revenue generated. Parth Jindal, Managing Director of JSW Paints and JSW Cement, highlighted the growing demand for copper across sectors like electric vehicles, renewable energy, construction, electronics, telecommunications, and healthcare. This demand presents a significant opportunity, especially as India currently imports much of its copper concentrate. By tapping into domestic copper resources, JSW aims to support India’s industrial growth and reduce reliance on imports.
In a separate development, JSW Group signed a memorandum of understanding (MOU) with South Korea’s POSCO Group in October last year to develop an integrated steel plant in India. The planned facility will have an initial production capacity of 5 million tonnes per annum (mtpa) to meet the rising demand for steel in India’s rapidly growing economy, with an emphasis on sustainable practices.