JSW Expands into Copper Mining with $26 Billion Jharkhand Project

JSW

Steel Giant JSW Enters Copper Industry

Indian steelmaker JSW has secured a major contract with Hindustan Copper Limited (HCL) to develop two copper mines and a processing plant in Jharkhand, India. The $26 billion investment aims to boost domestic copper production to meet the growing demand from key industries like electric vehicles (EVs), renewable energy, and construction. The project will yield 3 million tons of copper ore annually, strengthening India's position in the global copper market.

Strategic Partnership with Hindustan Copper

Under the agreement, JSW will oversee the development and operation of the mines, while state-owned HCL will provide technical expertise and share in the project’s revenue. The mines are scheduled to commence partial operations in the second half of the 2026-27 fiscal year, with full-scale production to follow shortly after.

Strengthening India's Copper Supply Chain

JSW’s expansion into non-ferrous metals aligns with India’s goal of reducing copper imports and achieving self-sufficiency. Currently, the country relies heavily on imported copper concentrate, as domestic production meets only a fraction of demand. This project could enhance industrial growth, particularly in green technologies, while fostering economic development in Jharkhand.