JSW Group to invest $301 mln for India copper mines in non-ferrous foray (updated)

JSW ENERGY

27/01/2025 10:06

(Rewrites with details of the expansion)
       Jan 27 (Reuters) - India's steel-to-power conglomerate
JSW Group will invest 26 billion rupees ($301.2 million) to set
up operations at two copper mines as it forays into mining
non-ferrous metals, the company said on Monday.
    The billionaire Sajjan Jindal-led group has won two blocks
of copper mines in the eastern mineral-rich state of Jharkhand
from Hindustan Copper  HCPR.NS  for a period of 20 years, with
the option to extend it for another decade.
    Once ramped up, the mines will have a copper ore capacity of
3 million tonnes per annum (MTPA) and are expected to be
part-operational in the second half of financial year 2027, the
group said in a statement.
 
 ($1 = 86.3290 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru; Editing by Mrigank
Dhaniwala and Savio D'Souza)
 ((Hritam.Mukherjee@thomsonreuters.com; X: @MukherjeeHritam;))