JSW Group to invest Rs 2,600 crore to develop 2 copper mines

The logo of JSW is seen on the company's headquarters in Mumbai

JSW Group on Monday said it will invest Rs 2,600 crore to develop and operate two copper mines and set up a copper concentrator plant in Jharkhand. The development marks JSW Group's foray into the copper business as part of its commitment to diversification and growth.

The project involves operationalizing the two mines and setting up of a copper concentrator plant, with the total capital investment estimated to be INR 2,600 Crores. On full-scale ramp up, the mines will have an ore capacity of 3 MTPA. The mines are expected to become part operational in the second half of financial year 2026-27 (H2 FY27).

"This strategic move marks JSW Group’s entry into the mining of non-ferrous metal sector, in keeping with its vision to diversify and meet the increasing demand for essential metals across high-growth sectors," the company said in a release.

"The JSW Group secured the MDO contract through a competitive bidding process of the copper mines of HCL for 20 Years and further extendable for next 10 years," it added.

Under the terms of the agreement, JSW will be responsible for the development of mines through capital expenditure and operational management including installation of concentrator plant of same capacity. In return, HCL will provide technical support and receive a percentage of the revenue generated.

Parth Jindal of JSW Group, said, “Venturing into non-ferrous metals, particularly copper, is a strategic move for the JSW Group. The increasing demand for copper in sectors such as electric vehicles (EVs), 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.”

JSW Group’s entry into the sector of copper mining underscores its commitment to play a leading role in India’s industrial growth and self-reliance in critical resources. By developing domestic copper resources, JSW aims to support the nation’s infrastructure development, technological advancement and transition to sustainable energy solutions.

With its headquarters in Mumbai, JSW Group has a significant presence across steel, energy, cement, infrastructure, paints, automobiles, defence, mining, venture capital and sports.