
Billionaire Sajjan Jindal-led JSW Group is foraying into the mining of non-ferrous metals sector by winning the Mine Operator & Developer (MDO) contract of two blocks of copper mines in Jharkhand from the state-owned Hindustan Copper Limited (HCL).
The project, according to JSW Group, involves operationalizing the two mines and setting up a copper concentrator plant, with the total capital investment estimated to be Rs 2,600 Crores. On full-scale ramp-up, the mines will have an ore capacity of 3 MTPA. The mines are expected to become partly operational in the second half of the financial year 2026-27 (H2 FY27).
In recent years, the steel major has ventured into multiple new businesses – from the paint market to automobiles - with aggressive expansion plans. In the copper mining business, the JSW will compete against the likes of Hindalco and Sterlite.
The JSW Group said that it secured the MDO contract through a competitive bidding process of the copper mines of HCL for 20 Years and further extendable for the next 10 years.
Under the terms of the agreement, JSW will be responsible for the development of mines through capital expenditure and operational management including the installation of concentrator plant of the same capacity. In return, HCL will provide technical support and receive a percentage of the revenue generated.
Parth Jindal of JSW Group, said, “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.”