JSW Group gets a copper lining to metals business

"The idea is to venture into non-ferrous metals because copper will be in huge demand, be it from EVs (electric vehicles), the renewable grid, construction, home appliances, everything needs copper," one of the people cited above said. "Today, India is a net importer. This is a critical start."

provide technical support and receive a percentage of the revenue generated from the mines.

This person added that having captive copper production will also aid JSW create backward integration with its EV and battery manufacturing plans, where copper is a major raw material, "so the move is highly synergistic".

Until its own copper smelter is operational, JSW plans to sell ore in the open market for both domestic buyers and exports. The newly acquired mines will be managed by Southwest Mining, a JSW subsidiary that operates multiple mining projects.