The JSW Group has secured a 20-year contract to develop and operate two copper mines in Jharkhand, marking its entry into non-ferrous mining. With a ₹2,600 crore investment, the project will help reduce India’s copper import dependency and meet growing demand across key sectors like EVs and renewable energy.
The JSW Group has entered the non-ferrous mining sector by securing the mine developer and operator (MDO) contract for two copper blocks in Jharkhand from Hindustan Copper Limited (HCL). The US$ 24-billion conglomerate announced plans to invest ₹2,600 crore in this venture. Under the contract, JSW will operationalize the mines and establish a copper concentrator plant. Once fully ramped up, the mines will have an ore capacity of 3 million tonnes per annum (MTPA) and are expected to begin partial operations in the second half of FY27.
This strategic expansion aligns with JSW’s goal of diversifying into essential metals to meet growing demand across high-growth sectors, including electric vehicles (EVs), renewable energy, construction, electronics, telecommunications, and healthcare. India’s reliance on imported copper concentrate underscores the importance of this move. Parth Jindal, representing JSW Group, emphasized that developing domestic copper resources will bolster India’s industrial growth and reduce import dependency.
The contract, secured through competitive bidding, has a tenure of 20 years, extendable by an additional 10 years. JSW will handle mine development, capital expenditures, and operational management, including setting up the concentrator plant, while HCL will provide technical support and receive a share of the revenue.
In addition to its mining venture, JSW recently signed a memorandum of understanding (MoU) with the Maharashtra government, committing ₹3 lakh crore to critical sectors such as steel manufacturing, renewable energy, EVs, infrastructure, and cement. The group also announced a ₹30,000 crore capex plan for FY25-FY30 to expand JSW Infrastructure’s cargo handling capacity to 400 MTPA by FY30 through brownfield and greenfield projects.
JSW Group, led by Sajjan Jindal, has diverse interests spanning steel, cement, energy, infrastructure, automobiles, paints, and sports. This latest venture strengthens the group’s position in India’s industrial landscape while advancing its diversification strategy.
You must be logged in to post a comment.
Stay ahead in the dynamic world of trade and commerce with India Business & Trade's weekly newsletter.