JSW to Develop Copper Mines and Processing Plant in Jharkhand

JSW

Indian Steelmaker Expands Into Copper Production to Meet Growing Demand

Indian steelmaker JSW has secured a significant contract with state-owned Hindustan Copper Limited (HCL) to develop two copper mines in Jharkhand, India. The company will invest $26 billion in the project, which includes the development of the mines and the construction of a copper processing plant. These mines will have a total output capacity of 3 million tons per year of copper ore.

JSW will oversee the development and operation of the mines, while HCL will provide technical support and receive a share of the revenue. The mines are expected to become partially operational by the second half of the 2026-27 fiscal year, with plans for full-scale operations following shortly after.

Boosting India's Copper Production to Meet EV and Renewable Energy Demands

This venture marks JSW's foray into non-ferrous metals, with a focus on copper, a key material for sectors such as electric vehicles (EVs), renewable energy, and construction. The move aligns with India's goal of becoming self-sufficient in copper production, reducing its dependence on imports. Currently, the country imports a significant portion of its copper concentrate, while domestic production only meets a fraction of the demand.

By investing in domestic copper production, JSW’s efforts could bolster India’s industrial growth, particularly in green technologies and infrastructure development. This development could make India a more competitive player in the global copper market, while also fostering economic growth in the region.