JSW Group has acquired two copper mines in Jharkhand through a competitive bidding process with Hindustan Copper, marking its entry into the non-ferrous metals sector. The mines, currently in the exploration phase, have a combined capacity of three million tonnes per annum (MTPA) and will require an estimated two years to become operational.
As part of the agreement, Hindustan Copper will provide technical expertise and receive a revenue share, while JSW will oversee mine development, capital expenditure, and operations. SouthWest Mining, a JSW subsidiary specializing in mining activities, will manage the mines.
The extracted ore will initially be sold in domestic and international markets until JSW establishes a planned copper smelter. The company stated that the acquisition aligns with its strategy for backward integration to support growing demand for copper in electric vehicles, renewable energy, construction, and consumer appliances.