The conglomerate secures a 20-year MDO contract for two copper mines in Jharkhand, marking its entry into the non-ferrous metals sector and aiming to boost domestic copper production to reduce import dependency.
27 Jan 2025 | 1449 Views | By Autocar Pro News Desk
JSW Group has ventured into the non-ferrous metals mining sector by securing a Mine Operator & Developer (MDO) contract for two copper mines in Jharkhand. The contract was awarded by state-owned Hindustan Copper Limited (HCL) following a competitive bidding process.
The project includes the development of the mines ...
This is an Autocar Pro Plus article. Subscribe to continue reading.
JSW Group has ventured into the non-ferrous metals mining sector by securing a Mine Operator & Developer (MDO) contract for two copper mines in Jharkhand. The contract was awarded by state-owned Hindustan Copper Limited (HCL) following a competitive bidding process.
The project includes the development of the mines and the establishment of a copper concentrator plant, with a planned investment of Rs 2,600 crore. Once fully operational, the mines are expected to achieve an ore production capacity of 3 million tonnes per annum (MTPA). Partial operations are scheduled to commence in the second half of the financial year 2026-27.
The contract, valid for 20 years with an option for a 10-year extension, tasks JSW Group with managing the development, capital expenditure, and operations of the mines. HCL will provide technical support and receive a share of the revenue generated from the project.
Commenting on the development, Parth Jindal, a representative of JSW Group, highlighted the strategic importance of the move. “Copper plays a vital role in several sectors, including electric vehicles, renewable energy, construction, and electronics. This initiative aims to support India’s industrial growth while reducing reliance on copper concentrate imports,” he said.
This marks JSW Group’s first venture into the copper mining industry, aligning with its broader objective of strengthening domestic resource availability. The company aims to contribute to India’s infrastructure and technological growth while supporting the country’s transition to sustainable energy solutions.