After Adani, Jindal enters copper biz – The Times of India-OxBig News Network

MUMBAI: Billionaire Sajjan Jindal‘s JSW Group is venturing into the non-ferrous metals business, with an investment of Rs 2,600 crore, following its entry into the automobile sector last year. The focus will be on copper, a critical material used in EVs, renewable energy infrastructure, electronics, and telecom. JSW will face competition from Adani Group, which entered the copper business in 2022, along with established players like Aditya Birla Group’s Hindalco Industries and Anil Agarwal’s Vedanta.

JSW will invest Rs 2,600 crore to kickstart operations at two copper mines in Jharkhand, having secured the contract from state-owned Hindustan Copper. Once fully operational, the mines will have a capacity of 3 million tonnes of ore.