JSW Group to invest Rs 2,600 crore in copper mines, plant in Jharkhand

The JSW Group has secured the mine developer and operator (MDO) contract for two copper blocks in Jharkhand from Hindustan Copper Limited (HCL), marking its entry into non-ferrous mining. The $24-billion conglomerate announced on Monday that it has earmarked an investment of Rs 2,600 crore for this venture.

Also ReadUltraTech in talks to buy HeidelbergCement India following rival Adani, claims report

As part of the project, JSW Group will oversee the operationalisation of the two mines and the establishment of a copper concentrator plant. Once fully ramped up, the mines will have an ore capacity of 3 MTPA and are expected to become partially operational in the second half of FY27.

This expansion into non-ferrous mining aligns with the group’s strategy to diversify and cater to the growing demand for essential metals across high-growth sectors, JSW Group said in a statement.

The contract, secured through a competitive bidding process, has a tenure of 20 Years and is further extendable for the next 10 years. JSW will be responsible for developing mines through capital expenditures and operational management, including the installation of a concentrator plant. In return, HCL will provide technical support and receive a percentage of the revenue generated.

“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 Parth Jindal calling the expansion into the mining of non-ferrous metals a strategic move.

The JSW Group has diverse interests including steel, cement, energy, infrastructure, automobiles, paints, and sports among others.

Last week, the group signed a memorandum of understanding (MoU) with the government of Maharashtra, with the commitment to invest Rs 3 lakh crore in critical sectors of the state such as steel manufacturing, renewable energy, electric vehicles and infrastructure and cement.

Also ReadUltraTech in talks to buy HeidelbergCement India following rival Adani, claims report

The Sajjan Jindal-led group last month announced Rs 30,000 crore capex for the FY25-FY30 period to expand its infrastructure arm JSW Infrastructure’s cargo handling capacity to 400 MTPA by FY30 through a combination of brownfield and greenfield projects,

 » Read More

Related Articles

Three-year car insurance: Are you still buying motor insurance annually?

By Paras Pasricha Every year, like clockwork, car owners face the same familiar reminder of renewing their car insurance. Between busy schedules and endless to-do lists, it’s easy to push it to the last minute or even let it slip through the cracks. But skipping renewal isn’t just a minor inconvenience, it could leave you

Nifty on the edge of a precipice

By V K Sharma The Nifty closed at 22,795.90 on Friday, its lowest closing level since reaching an all-time high of 26,277.35 on September 27. The Nifty has gone below the 22,800 mark four times in intra-day terms but has always managed to bounce back above it on a closing basis. This puts the Nifty

Experts seek clarity on new I-T rules for NPOs

While the Income Tax Bill, 2025 has consolidated the tax laws governing non-profit organisations (NPOs), tax experts have sought more clarity on the criteria for these entities to qualify for tax concessions. The new Bill seeks to explain ‘permissible commercial activities’ for registered NPOs – a feature which was absent in the extant I-T Act

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
0FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles

Three-year car insurance: Are you still buying motor insurance annually?

By Paras Pasricha Every year, like clockwork, car owners face the same familiar reminder of renewing their car insurance. Between busy schedules and endless to-do lists, it’s easy to push it to the last minute or even let it slip through the cracks. But skipping renewal isn’t just a minor inconvenience, it could leave you

Nifty on the edge of a precipice

By V K Sharma The Nifty closed at 22,795.90 on Friday, its lowest closing level since reaching an all-time high of 26,277.35 on September 27. The Nifty has gone below the 22,800 mark four times in intra-day terms but has always managed to bounce back above it on a closing basis. This puts the Nifty

Experts seek clarity on new I-T rules for NPOs

While the Income Tax Bill, 2025 has consolidated the tax laws governing non-profit organisations (NPOs), tax experts have sought more clarity on the criteria for these entities to qualify for tax concessions. The new Bill seeks to explain ‘permissible commercial activities’ for registered NPOs – a feature which was absent in the extant I-T Act

‘We expect prices to rise by 8-12% in our projects’

Bengaluru based property developer Brigade Enterprises reported a more than threefold jump in its Q3 consolidated net profit to Rs 236.24 crore and its sales bookings rose 63% to Rs 2,492 crore in the December quarter. Pavitra Shankar, managing director, Brigade Enterprises, talks to Raghavendra Kamath about the company’s plans and outlook for the real

Delhivery expands road trains for auto, FMCG

Third-party logistics provider Delhivery is betting big on road trains — tractor units towing multiple trailers — to transform transportation for high-volume sectors like automobiles and fast-moving consumer goods (FMCG). The company believes this innovation will significantly reduce costs and enhance efficiency. Arun Bagavathi, network design head at Delhivery, told FE that logistics is a