News Update
🔸JSW Steel has acquired two copper mines in Jharkhand from Hindustan Copper, with a combined capacity of 3 MT. Operations will be managed by its subsidiary, Southwest Mining.
Our View
🔸This acquisition marks JSW Steel's entry into the copper segment, where domestic demand is expected to double from ~1 MT in FY23 to ~2 MT by FY33.
🔸Growth drivers include infrastructure, EVs, and renewable energy.
🔸The company will sell ore in the interim, with plans for smelting operations underway.
Disclaimer: bit.ly/full-disclaimer
🔸JSW Steel has acquired two copper mines in Jharkhand from Hindustan Copper, with a combined capacity of 3 MT. Operations will be managed by its subsidiary, Southwest Mining.
Our View
🔸This acquisition marks JSW Steel's entry into the copper segment, where domestic demand is expected to double from ~1 MT in FY23 to ~2 MT by FY33.
🔸Growth drivers include infrastructure, EVs, and renewable energy.
🔸The company will sell ore in the interim, with plans for smelting operations underway.
Disclaimer: bit.ly/full-disclaimer