JSW will oversee mine development through capital investment and operational management. Credit: T. Schneider/Shutterstock.

JSW Group has announced a Rs26bn ($301.58m) investment to develop and operate two copper mines and establish a copper concentrator plant in Jharkhand, India.

The mine operator and developer contract was secured via a competitive bidding process for a 20-year term, with the possibility of a ten-year extension, from Hindustan Copper Limited (HCL).

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This initiative marks JSW Group’s expansion into non-ferrous metal mining and entry into the copper sector, aligning with its diversification and growth strategy, reported the Economic Times.

Once fully operational, the mines will have an ore capacity of three million tonnes per annum (mtpa) and are expected to begin partial operations in the second half of 2026–27, the report said.

As per the agreement, JSW will oversee mine development through capital investment and operational management, which includes setting up a concentrator plant with the same capacity.

HCL will provide technical support and receive a share of the revenue generated.

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JSW Paints and JSW Cement managing director Parth Jindal said: “The increasing demand for copper in sectors such as electric vehicles, 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.”

In October last year, JSW Group signed a memorandum of understanding (MOU) with South Korean major POSCO Group to develop an integrated steel plant in India.

The planned integrated facility is set to have an initial production capacity of 5mtpa and cater to the increasing demand for steel in India’s expanding economy.

The partnership is also set to enhance the country’s steel production capabilities while promoting sustainable practices in both nations.