JSW Group Ventures into Copper Mining with Rs 2,600 Crore Investment

JSW Group has announced a significant diversification into the copper mining industry with a Rs 2,600 crore investment to develop and operate copper mines in Jharkhand. This move aims to boost India's domestic copper resources and reduce dependency on imports, while supporting industrial growth.

JSW Group revealed plans to invest Rs 2,600 crore in developing two copper mines and a concentrator plant in Jharkhand, marking its entry into the copper sector.

This strategic investment aims to strengthen India's position in critical resources and reduce its reliance on copper imports, particularly benefiting sectors such as electric vehicles and renewable energy.

JSW secured a 20-year contract, extendable to 30 years, through a competitive bidding to manage and operate these mines, with expectations to partially operationalize by 2026-27.

(With inputs from agencies.)