JSW Group, one of India’s leading conglomerates, has announced a substantial investment of ₹26 billion (approximately $301 million) to develop and operate two copper mines in Jharkhand. This move marks the company’s entry into the non-ferrous metals sector, as it seeks to diversify its portfolio beyond steel and power. The investment comes amid increasing demand for copper in sectors such as renewable energy, electric vehicles, and infrastructure.
The company has acquired two copper mine blocks from Hindustan Copper Limited, securing rights for a period of 20 years, with an option for an additional 10-year extension. Once fully operational, these mines are expected to produce up to 3 million tonnes of copper ore annually. JSW Group aims to commence partial operations in the second half of the fiscal year 2027, with full-scale production anticipated in the following years.
This strategic investment is driven by the growing challenges in the steel industry, including declining prices, reduced demand from China, and an influx of low-cost Chinese steel in the domestic market. By entering the copper mining sector, JSW Group aims to mitigate risks associated with the volatile steel industry and tap into the increasing demand for copper in India and globally.
With this expansion, JSW will compete directly with major players in the Indian copper market, including Vedanta, Hindalco, Hindustan Copper, and Adani Copper. The company’s diversification into non-ferrous metals aligns with its long-term strategy to strengthen its position in the mining sector and reduce reliance on its traditional steel business.
This investment also supports India’s push for self-sufficiency in copper production, as the country currently imports a significant portion of its copper requirements. JSW Group’s move into copper mining is expected to enhance domestic supply, create jobs, and contribute to the overall economic growth of the region.
