JSW Group Ventures into Copper Mining with Jharkhand Blocks

28 Jan 2025 CW Team

The JSW Group, led by Sajjan Jindal, is entering copper mining with a Rs 26 billion investment, marking its expansion into a sector critical to new energy and technology developments. The group has secured two copper mine blocks in Jharkhand from Hindustan Copper through a 20-year Mine Operator and Developer contract, extendable by another 10 years.

The mines are expected to be partially operational by the second half of FY 2026-27 and will have an annual ore capacity of 3 million tonnes once fully ramped up. Additionally, the group plans to establish a copper concentrator plant to support its operations.

Copper has garnered renewed interest in recent years due to its essential role in energy and technology advancements. Other major players in the copper industry include the Adani Group, which is venturing into copper smelting, and the Aditya Birla Group, which operates the world’s largest single-location copper smelter and is expanding its capacity. The Vedanta Group also owns a copper smelter in Tamil Nadu, although it has faced operational challenges due to environmental concerns.

JSW, primarily known for its steel production, also has a presence in energy, ports, real estate, cement, paints, and automobiles. Under the partnership, Hindustan Copper will provide technical support and receive a share of the revenue, while JSW will oversee the development and operations of the mines.

This move solidifies JSW's commitment to diversifying its portfolio and supporting India’s growing demand for critical minerals in the energy and technology sectors.

(ET)

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