India's steel-to-power conglomerate JSW Group will invest 26 billion rupees ($301.2 million) to set up operations at two copper mines, the company said on Monday, foraying into mining non-ferrous metals as steel prices fall.

JSW Group has a won a bid to secure two copper mining blocks in the eastern Indian state of Jharkhand from state-owned Hindustan Copper Ltd., expanding its business into mining of non-ferrous metals.

JSW Group announced on Monday (27 January) that it will invest Rs 2,600 crore to develop and operate two copper mines and establish a copper concentrator plant in Jharkhand. This move marks the group’s entry into the copper business, reflecting its ongoing commitment to diversification and growth, reported The Economic Times.

JSW Group on Monday said it will invest Rs 2,600 crore to develop and operate two copper mines and set up a copper concentrator plant in Jharkhand.

JSW Group invests Rs 2,600 crore in copper mining to support India's industrial growth and reduce import dependency.

With its headquarters in Mumbai, JSW Group has a significant presence across steel, energy, cement, infrastructure, paints, automobiles, defence, mining, venture capital and sports.

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.