(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 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)
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