JSW Enters Copper Sector With Rs 2,600 Crore Investment In Mining Venture

ENA Sectors 2025-01-28 15:54:44 Ranchi, Jan 28 (KNN) JSW Group has secured a mine developer and operator (MDO) contract from Hindustan Copper Limited (HCL) for two copper blocks in Jharkhand. The conglomerate announced on Monday that it will invest Rs 2,600 crore in this venture, marking its first foray into non-ferrous mining operations. The scope of the project encompasses the operationalisation of two mines and the construction of a copper concentrator plant. The facilities are projected to achieve an ore capacity of 3 MTPA, with partial operations expected to commence in the second half of FY27. The 20-year contract, secured through competitive bidding, includes an option for a 10-year extension. Under the agreement, JSW will manage development and operations, while HCL will provide technical expertise and receive a share of the revenue. Parth Jindal of JSW Group characterised the expansion as a strategic initiative, citing growing copper demand across multiple sectors including electric vehicles, renewable energy infrastructure, construction, electronics, telecommunications, and healthcare. He emphasised the project's potential to reduce India's reliance on copper concentrate imports while supporting domestic industrial growth. The copper mining venture adds to JSW Group's diverse portfolio, which spans steel, cement, energy, infrastructure, automobiles, paints, and sports. This announcement follows recent significant commitments by the group, including a Rs 3 lakh crore investment agreement with the Maharashtra government for various sectors and a Rs 30,000 crore capital expenditure plan to expand JSW Infrastructure's cargo handling capacity to 400 MTPA by FY30. (KNN Bureau) 40817 https://knnindia.co.in/news/newsdetails/sectors/jsw-enters-copper-sector-with-rs-2600-crore-investment-in-mining-venture 2025-01-28 15:54:44 knnindia.co.in JSW Enters Copper Sector With Rs 2,600 Crore Investment In Mining Venture