JSW acquires 2 Hindustan Copper mines in Jharkhand

• Move aims to meet rising demand for copper
  
  
• Two mines currently in exploration stage
  
  

JSW Group, led by Sajjan Jindal, has expanded into the non-ferrous sector by acquiring two copper mines in Jharkhand from Hindustan Copper. This acquisition is part of the company's strategy to address the growing application of copper in key industries, such as electric vehicles and renewable energy, positioning JSW to play a crucial role in meeting these rising demands.

The company secured two copper mines in Jharkhand through a successful bid, surpassing Hindalco Industries. As part of the agreement, JSW will oversee the mines' development, capital investments, and operations, while Hindustan Copper will provide technical support and share in the revenue. This partnership strengthens JSW's position in meeting the growing demand for copper, especially for industries like electric vehicles and renewable energy.

The two copper mines acquired by JSW are currently in the exploration phase and will take at least two years to become operational. With a combined capacity of 3 mtpa, the mines will supply ore to JSW's planned copper smelter, once they meet environmental, safety, and legal standards. Production will not begin until these requirements are fulfilled.

In the meantime, JSW plans to sell the extracted copper ore in both domestic and international markets. The company's subsidiary, SouthWest Mining, will manage the mines. This move supports JSW's backward integration strategy to meet the rising demand for copper, especially in electric vehicle and battery manufacturing sectors, where copper plays a vital role.