JSW Group ventures into copper mining with ₹2,600 cr investment in Jharkhand

Expanding into the non-ferrous metals sector, the JSW Group announced today that it has secured the Mine Operator & Developer (MDO) contract for two copper mines in Jharkhand from state-owned Hindustan Copper Limited (HCL).

The project involves operationalizing the two mines and setting up a copper concentrator plant, with a total estimated capital investment of ₹2,600 crore. Once fully operational, the mines are expected to have an ore capacity of 3 MTPA. The mines are projected to become partly operational in the second half of the 2026-27 financial year (H2 FY27).

This strategic move marks the JSW Group’s entry into the non-ferrous metals mining sector, in line with its broader diversification strategy.

The MDO contract, secured through a competitive bidding process, spans 20 years, with an option to extend for an additional 10 years. Under the agreement, JSW will develop the mines, invest in capital expenditure, and manage operations, including the installation of the concentrator plant. In return, HCL will provide technical support and receive a percentage of the generated revenue.

Parth Jindal of JSW Group stated that venturing into non-ferrous metals, particularly copper, is a strategic move. "The increasing demand for copper in industries such as electric vehicles (EVs), renewable energy, construction, electronics, telecommunications, and healthcare presents a significant opportunity. India is currently a major importer of copper concentrate, and by developing domestic copper resources, we aim to support the country’s industrial growth while reducing reliance on imports."

The $24 billion JSW Group has a strong presence across various sectors, including steel, energy, cement, infrastructure, paints, automobiles, defence, mining, venture capital, and sports.

Last week, JSW Defence's unit, JSW UAV Ltd, signed a memorandum of understanding (MoU) with the Telangana government to establish a manufacturing facility for unmanned aerial systems (UAS). As part of the agreement, JSW UAV will invest ₹800 crore in collaboration with a leading U.S.-based defence technology company.