Copper Mine Bidding War: A Race to Control Jharkhand's Copper Resources

Hindalco Industries and JSW Steel are competing for two copper mines in Jharkhand, on sale in October. The competition for state-owned Hindustan Copper Ltd's assets aims to boost domestic copper production, reducing reliance on imports. Extensions and approvals are underway for optimal operation.

In a strategic move to boost domestic production and reduce dependency on imports, Aditya Birla Group's Hindalco Industries and JSW Steel, led by Sajjan Jindal, are set to compete for two crucial copper mines in Jharkhand. Sources reveal that the auction will take place this month.

The mines, with a combined capacity of three million tonnes per annum, are owned by state-run Hindustan Copper Ltd. One of these blocks has remained closed for 20 years, while the other has never been tapped. Hindustan Copper is simultaneously working on expanding its production capabilities to 12.2 million tonnes annually, as indicated by its CMD, Ghanshyam Sharma.

This development coincides with Hindustan Copper's ongoing efforts to extend its Rakha Mining Lease, which expired in 2021, alongside securing necessary forestry clearances. The expansion projects, including the underground mine development at Malanjkhand Copper Project, are critical to sustaining and enhancing ore production.

(With inputs from agencies.)