India’s JSW plans to set up 500,000 ton capacity copper smelter

Indian conglomerate JSW Group will invest 120 billion rupees (1.39 billion dollars) to set up a 500,000 ton capacity copper smelter in Odisha state by 2028–2029. To supply production, the company is going to buy concentrate from Peru and Chile, Reuters states.

JSW Group also intends to scale up the capacity to 1 million tons by 2033–2034. The company plans to use the copper produced at the smelter to feed its electric vehicle and battery manufacturing facilities, the agency says.

India, which is currently dependent on copper imports to meet shortfalls, has added the asset to its list of 30 critical minerals in 2023 as part of the country's efforts towards renewable energy sources. According to Reuters, India's copper imports jumped after the closure of Vedanta's Sterlite Copper smelter in 2018. It produced about 400,000 tons of the metal per year.

As reported by the agency, India's refined copper output is estimated at about 555,000 tons per year. Meanwhile, domestic consumption exceeds 750,000 tons. To meet the shortfalls, India imports about 500,000 tons of metal per year.