JSW Group To Invest Rs 2,600 Crore In Copper Mines And Plant In Jharkhand, Aims To Strengthen India’s Position In Critical Resource Sector

JSW Group announced on Monday (27 January) that it will invest Rs 2,600 crore to develop and operate two copper mines and establish a copper concentrator plant in Jharkhand. This move marks the group’s entry into the copper business, reflecting its ongoing commitment to diversification and growth, reported The Economic Times.

"With a planned investment of Rs 2,600 crore, this marks a significant milestone in strengthening India's position in critical resources," JSW stated in an official release as per The Economic Times.

The company revealed that it has expanded into the mining of non-ferrous metals by securing the mine developer and operator (MDO) contract for two copper mine blocks in Jharkhand from Hindustan Copper Ltd (HCL), a state-owned enterprise.

"The project involves operationalising the two mines and setting up of a copper concentrator plant, with the total capital investment estimated to be Rs 2,600 crore," the statement added.

Once fully operational, the mines are expected to deliver an ore production capacity of three million tonnes per annum (MTPA). Partial operations are slated to begin in the second half of the 2026-27 financial year.

JSW Group secured the MDO contract through a competitive bidding process for an initial term of 20 years, extendable by an additional 10 years.

As part of the agreement, JSW will handle mine development, capital investments, and operational management, including the installation of a concentrator plant of the same capacity. In turn, HCL will provide technical expertise and receive a share of the revenue generated.

Parth Jindal of JSW Group highlighted the strategic importance of the initiative, stating, "The increasing demand for copper in sectors such as electric vehicles, renewable energy infrastructure, construction, electronics, telecommunications and healthcare presents a significant opportunity. 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."

Headquartered in Mumbai, JSW Group is a diversified conglomerate with a robust presence across industries such as steel, energy, cement, infrastructure, paints, automobiles, defence, mining, venture capital, and sports.