HINDCOPPER

Feb 13 (Reuters) - Hindustan Copper Ltd HCPR.NS:

• HINDUSTAN COPPER - GETS DEMAND NOTICE WORTH 9.29 BILLION RUPEES

• HINDUSTAN COPPER - ALLEGATIONS AGAINST HCL FOR PRODUCTION WITHOUT VALID CLEARANCES

Source text: ID:nBSEQwHsh

Further company coverage: HCPR.NS

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By Neha Arora

NEW DELHI, Feb 12 (Reuters) - Security risks are prompting India to pull out of a lithium project in Mali backed by Russia's state nuclear corporation Rosatom, sources said, as New Delhi seeks to safeguard its investments in the politically unstable West African nation.

Western nations, from Britain and France to the United States, have urged citizens to leave the landlocked nation as security concerns rise in its battle with al Qaeda-linked militants targeting economic assets and foreign investment.

Last year Rosatom approached India's government-backed Khanij Bidesh India Ltd (KABIL) and NLC India Ltd NLCI.NS for lithium exploration in Mali, an emerging producer of the metal critical in making batteries for electric vehicles.

"The project is on hold because we cannot be spending on something where there is a chance we will lose our investment," one of the sources said.

Both sources, who were directly involved in the decision-making, sought anonymity because the discussions were confidential.

India's mining ministry, KABIL and NLC India did not respond to Reuters requests for comment. Rosatom declined to comment.

Russia has been cultivating ties with a string of African countries, through efforts including military cooperation, and has strengthened relations with Mali and Burkina Faso.

The world's fastest-growing major economy, India has sought a steady supply of lithium in anticipation of rising demand for the metal, key to cutting carbon emissions from the world's third-largest emitter.

New Delhi is targeting 30% electric car penetration and 80% for two-wheelers by 2030, up from 4% and 6% now.

India has recently stepped up efforts for deals to access critical minerals in resource-rich countries such as Argentina, Australia and Chile.

In 2024, KABIL signed an exploration and development pact with a state-owned firm in Argentina to explore and mine five lithium blocks, but has not signed any similar deals since.

(Reporting by Neha Arora; additional reporting by Anastasia Lyrchikova in Moscow; Editing by Mayank Bhardwaj and Clarence Fernandez)

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Feb 5 (Reuters) - Hindustan Copper Ltd HCPR.NS:

• HINDUSTAN COPPER DEC-QUARTER CONSOL NET PAT 1.56 BILLION RUPEES

• HINDUSTAN COPPER DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 6.87 BILLION RUPEES

• HINDUSTAN COPPER - DIVIDEND 1 RUPEES PER SHARE

Source text: ID:nBSE7Xmdsr

Further company coverage: HCPR.NS

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Jan 16 (Reuters) - Hindustan Copper Ltd HCPR.NS:

• COMMENCES OPERATIONS AT KENDADIH MINE

Source text: ID:nBSE2zhhzx

Further company coverage: HCPR.NS

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By Hritam Mukherjee and Neha Arora

BENGALURU/NEW DELHI, Jan 15 (Reuters) - Coal India COAL.NS is scouting partnership opportunities in rare-earth mining across Australia, Russia, Argentina, Chile and several African countries, a top executive of its coking coal-focussed unit said on Thursday, as New Delhi looks to reduce reliance on China-dominated supply chains.

The move comes after top producer China expanded export curbs on rare-earth minerals late last year, threatening operations in sectors from autos to electronics that depend on the critical materials.

"In our country and in foreign countries also, we are going to invest; we are going to explore; we are also collaborating with other companies for rare earth metals. It is in the starting stage," Bharat Coking Coal Ltd BARC.NS Chairman and Managing Director Manoj Kumar Agarwal told Reuters in an interview.

Coal India is pursuing both overseas and local opportunities in this regard, and domestically aims to collaborate with state-run IREL, Khanij Bidesh India Ltd and Hindustan Copper HCPR.NS, Agarwal said.

The partnerships will be funded using proceeds from BCCL's $119 million initial public offering, which closed Tuesday after being oversubscribed nearly 147 times. The company, whose offering comprised only existing shares with no new issuance, is set to list Monday.

BCCL also plans to acquire coking coal mines in Australia and Russia within the next two to three years, Agarwal added.

The company aims to raise its coking coal production capacity to 56 million tonnes per annum by fiscal 2030, up from 40.5 MTPA at the end of fiscal 2025, he added.

Investors are betting BCCL will benefit from India's infrastructure push, which requires steel as a pivotal industrial raw material. Coking coal is a key steel-making ingredient.

(Reporting by Hritam Mukherjee in Bengaluru and Neha Arora in New Delhi; Editing by Tasim Zahid)

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** Hindustan Copper HCPR.NS rises 4.43% to 565.8 rupees, its highest point since January 2010

** The benchmark three-month copper contract CMCU3 on the London Metal Exchange climbs 2.86% to $12,826.5 a ton

** Earlier in the day, the contract climbed as much as 3.28% and approached a record of $12,960 set last year

** HCPR is top gainer on Nifty Metals .NIFTYMET index, which is up 0.8%

** Stock up nearly 109% in 2025

(Reporting by Mridula Kumar in Bengaluru)

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** In 2025, non-bank lender L&T Finance LTFL.NS set to be top pct gainer on Nifty mid-cap .NIFMDCP100 index

** YTD, LTFL soars 131% on back of strong earnings and supportive policies vs mid-cap index's 6% gain

** Miner Hindustan Copper HCPR.NS set to be top pct gainer on small-cap .NIFSMCP100 index

** YTD, HCPR surges 110% tracking record high copper prices on firm demand signals from China, supply concerns vs small-cap index's 6% drop

** Nifty 50 .NSEI gains 10.3% YTD

(Reporting by Hritam Mukherjee in Bengaluru)

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** Indian metal sub index .NIFTYMET falls the most among 16 major sectors to 1.5%

** Prices for base metals like copper and aluminium extended fall pressured by a stronger dollar MET/L

** A stronger dollar makes commodities transacted in the greenback more expensive to investors using other currencies

** Policymakers at the U.S. Federal Reserve remain divided on a December interest rate cut

** Steel Authority of India SAIL.NS falls the most in the index, trading down 2.8%

** Hindustan Copper HCPR.NS and Hindustan Zinc HZNC.NS decline 2.75% and 2.5% respectively

** YTD, sub index up 19.5%, slightly more than double of the benchmark index's .NSEI growth of 9.5%

(Reporting by Urvi Dugar in Bengaluru)

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** Shares of state-owned integrated copper producer Hindustan Copper HCPR.NS rise 6.3% to 328.20 rupees

** Shanghai copper rises to a six-month high after Freeport-McMoran FCX.N declared force majeure at its Indonesia Grasberg mine, one of the world's biggest copper and gold mines

** Operations at Grasberg have been temporarily suspended after a large flow of wet material blocked access to some underground parts of the mine earlier this month

** Tighter copper supply aids pricing power and margins for domestic producers

** HCPR's trading volumes at 61.6 mln shares, the highest since December 2023

** HCPR shares up ~32% YTD

(Reporting by Vijay Malkar)

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Updates

** Metal stocks .NIFTYMET up 1%, set for fourth consecutive day of gains, as Nomura reiterates bullish stance on India's steel sector citing sustained domestic, global tailwinds

** Nomura notes China's anti-involution policies to cut production 9% y/y in rest of 2025

** While demand remains tepid in China and exports still remain at record levels, aggressive production cuts should provide some support - Nomura

** Maintans "buy" and raises PT for JSW Steel JSTL.NS to 1,300 rupees from 1,220 rupees and Jindal Steel JINT.NS to 1,150 rupees from 1,080 rupees

** Both up almost 2.5% on Tuesday

** Motilal Oswal says Tata Steel's TISC.NS Indian capacity expansion and European ops restructuring support earnings growth despite near-term global challenges

** Keeps "neutral" on TISC, 180 rupees PT; stock up almost 1%

** YTD, subindex up 16%, JSW and TISC gain 25%, JINT up 11%

(Reporting by Manvi Pant and Urvi Dugar in Bengaluru)

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** Shares of Hindustan Copper HCPR.NS jump 6.7% to 301.68 rupees

** Co signs pact with state run Oil India OILI.NS to explore critical minerals, including copper and associated minerals, on Friday

** OILI shares up 1.5%

** Also signs deed for 20 more year to reopen and expand Rakha copper mine in the eastern state of Jharkhand on Friday

** After a 20-year shutdown, co appointed South West Mining Limited to reopen and develop the copper mine in January

** More than 28.7 million shares traded, almost 5.5x times their 30-day avg

** YTD, HCPR up 22%

(Reporting by Urvi Dugar)

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Sept 19 (Reuters) - Oil India Ltd OILI.NS:

• OIL INDIA AND HCL SIGN MOU FOR CRITICAL MINERALS EXPLORATION

Source text: ID:nBSE84q5rx

Further company coverage: OILI.NS

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** India's Hindustan Copper HCPR.NS jumps 13% to 280 rupees, set to rise for third straight session

** Stock marks its biggest intra-day gain since December 2023

** Copper miner sets capital expenditure of ~20 bln rupees ($226.5 mln) in next five to six years

** Adds that it will acquire new copper deposit in India and abroad

** YTD, HCPR rose 0.3%

($1 = 88.2880 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru)

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Updates with more details from executive in paragraphs 5, 7-8, background in paragraph 6, 9

NEW DELHI, Aug 28 (Reuters) - India's National Aluminium Company (NALCO) NALU.NS will invest a total of 300 billion rupees ($3.43 billion) in a new smelter and a coal power plant over the next five years, Chairman and Managing Director Brijendra Pratap Singh said on Thursday.

The state-run aluminium producer will budget roughly 180 billion rupees to set up the proposed smelter in the eastern Indian state of Odisha, Singh told reporters in New Delhi.

The project will be funded through a mix of debt and internal accruals, he added.

The remaining 120 billion rupees will be used to set up a coal power plant, for which it is in talks with Coal India COAL.NS and NTPC NTPC.NS, Singh said.

Singh said NALCO was also looking to acquire new mines in the country to dig up coal and bauxite, the ore from which aluminium is produced.

It already operates bauxite mines and an alumina refinery in the state of Odisha.

The firm is also conducting eligibility studies at five mines in Argentina for lithium, a mineral used in making batteries for electric vehicles, Singh said.

Through its joint venture Khanij Bidesh India Limited (KABIL) - inked with Hindustan Copper HCPR.NS and Mineral Exploration and Consultancy Limited - NALCO is also looking at equity investments in Australian lithium assets, he added.

India has been forming global partnerships to gain access to lithium mines.

($1 = 87.5060 Indian rupees)

(Reporting by Sethuraman N R, writing by Hritam Mukherjee, Editing by Anil D'Silva)

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Aug 14 (Reuters) - Hindustan Copper Ltd HCPR.NS:

• HINDUSTAN COPPER JUNE-QUARTER CONSOL NET PROFIT 1.34 BILLION RUPEES

• HINDUSTAN COPPER JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 5.16 BILLION RUPEES

Source text: ID:nBSE2s72Nf

Further company coverage: HCPR.NS

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** India's Hindustan Copper slips 4.04% to 247.9 rupees

** U.S. President Donald Trump said on Wednesday that U.S. will impose a 50% tariff on copper pipes and wiring from Friday

** Copper prices down ~22% on the day MET/L

** Peers Vedanta VDAN.NS and Hindalco HALC.NS down 1.17% and 0.2% on the day

** Broader benchmark index .NSEI flat as investors see Trump's threat of a 25% tariff on India and unspecified penalty, effective Aug 1, as more a negotiating tactic than a firm decision

(Reporting by Ananta Agarwal in Bengaluru)

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July 9 (Reuters) - India will discuss the impact of U.S. tariff on copper, mines minister Kishan Reddy said at an event in New Delhi on Wednesday.

(Reporting by Neha Arora in New Delhi; Editing by Sumana Nandy)

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By Arpan Chaturvedi and Neha Arora

NEW DELHI, June 26 (Reuters) - The Indian government has rejected a claim by trade bodies that its move to impose quality control curbs on copper cathode imports would lead to a monopoly, as 10 foreign suppliers have obtained certification, a legal document showed on Thursday.

India, the world's second-largest importer of refined copper, is defending its quality control measures in court against accusations that it would lead to supply shortages and create a monopoly of three domestic suppliers.

In an over 160-page reply to the petitions by the Bombay Metal Exchange (BME) and the Bombay Non-Ferrous Metals Association, the government says their concerns on supply constraints are "misconceived and unfounded".

"The implementation of the QCO has not led to any monopolistic practices of price distortion," said India's Ministry of Mines, as it asked for the rejection of the trade associations' legal challenge.

The Bombay Metal Exchange, the Bombay Non-Ferrous Metals Association and the federal Ministry of Mines did not immediately respond to Reuters' emails seeking comments.

The reply seen by Reuters adds that the quality control order was a regulatory measure aimed to safeguard consumer interests and applies equally to all entities whether they are domestic or foreign.

"Foreign suppliers are not being barred... The regulation aims to enhance product reliability and safety, not restrict competition," it added.

Copper is one of 30 critical minerals identified by India in 2023 and demand within the country is expected to double by 2030. The domestic supply is dominated by Hindalco Industries HALC.NS, Vedanta, Adani and the state-owned Hindustan Copper HCPR.NS.

Imports in the country have surged since 2018 after the closure of Vedanta's domestic Sterlite Copper smelter.

Japan accounts for about two-thirds of India's refined copper imports, followed by Tanzania and Mozambique.

Among the 10 foreign suppliers who have secured the certification under the new rules, seven are from Japan, two from Malaysia and one from Austria, the Indian government's reply said.

Bombay Metal Exchange President Sandeep Jain told Reuters last month that the trade body was "compelled to seek judicial intervention" as the government did not defer the implementation of the quality control orders, and the measure had led to supply shortages.

(Reporting by Arpan Chaturvedi, editing by Ed Osmond)

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June 6 (Reuters) - RITES Ltd RITS.NS:

• RITES LTD - AND HCL SIGN MOU TO DEVELOP CRITICAL MINERAL SUPPLY CHAIN

Source text: ID:nBSE9f6mFn

Further company coverage: RITS.NS

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This May 13 story was updated on May 14 to add comments from Bombay Metal Exchange in paragraphs 8-9

By Neha Arora

NEW DELHI, May 13 (Reuters) - The Indian government is expected to argue that there is sufficient domestic supply of copper cathodes, and an adequate number of suppliers, as it prepares a response to a case on import curbs filed by two trade associations, two sources said.

India, the world's second-largest importer of refined copper, relies on imports to address shortfalls and meet robust demand in sectors such as energy, defence, automotives and infrastructure. Copper is among the 30 critical minerals identified by India in 2023.

But the government imposed quality control measures on copper cathode imports in December, requiring all suppliers, foreign and domestic, to obtain certification from Indian authorities.

The Bombay Metal Exchange and the Bombay Non-Ferrous Metals Association have submitted a petition, reviewed by Reuters, to the Bombay High Court claiming that the government action could lead to a monopoly dominated by three domestic suppliers, without naming them.

"Where are the shortages?" one of the sources, familiar with government thinking, told Reuters. "The only evidence they (trade bodies) have is that in December and January imports had reduced, which is old data."

The source said that companies had imported large quantities of copper in October and November, which then led to lower imports in the following months.

"We will fight the case, their case does not hold," the source said, declining to be identified as the government has not filed a formal response yet. Another source confirmed the government would defend its position.

The Bombay Metal Exchange was "compelled to seek judicial intervention" as the government did not defer the implementation of the quality control orders, President Sandeep Jain said in a statement.

"Given that India relies on imports for approximately 40% of its copper supply, this non-tariff barrier has inevitably led to supply shortages," Jain said, adding that during April to February the copper imports shortfall was 100,000 metric tons compared to the same period last year.

India's mines ministry did not respond to request for comment.

DEMAND SURGE

Copper demand is expected to double by 2030 as India aims to meet the needs of its industries and the energy transition. Domestic companies in the copper industry include Hindalco Industries HALC.NS, Vedanta, Adani ADEL.NS, and the state-owned Hindustan Copper HCPR.NS.

India's refined copper production is estimated at around 555,000 tons per year, and New Delhi imports around 500,000 tons of copper a year to meet the shortfall. Imports have surged since the 2018 closure of Vedanta's domestic Sterlite Copper smelter

But in December, the government said that the ramp-up of Adani Enterprises' smelter would fulfil India's domestic requirement and cut down imports. It is expected to become operational over the next four weeks.

Japan accounts for about two-thirds of India's refined copper imports, followed by Tanzania and Mozambique.

There are currently 10 certified foreign copper suppliers, both sources said, seven of which are Japanese, and five more domestic certified suppliers.

(Reporting by Neha Arora; Editing by Rachna Uppal and Christian Schmollinger)

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By Neha Arora

NEW DELHI, May 13 (Reuters) - The Indian government is expected to argue that there is sufficient domestic supply of copper cathodes, and an adequate number of suppliers, as it prepares a response to a case on import curbs filed by two trade associations, two sources said.

India, the world's second-largest importer of refined copper, relies on imports to address shortfalls and meet robust demand in sectors such as energy, defence, automotives and infrastructure. Copper is among the 30 critical minerals identified by India in 2023.

But the government imposed quality control measures on copper cathode imports in December, requiring all suppliers, foreign and domestic, to obtain certification from Indian authorities.

The Bombay Metal Exchange and the Bombay Non-Ferrous Metals Association have submitted a petition, seen by Reuters, to the Bombay High Court claiming that the government action could lead to a monopoly dominated by three domestic suppliers, without naming them.

"Where are the shortages?" one of the sources, familiar with government thinking, told Reuters. "The only evidence they (trade bodies) have is that in December and January imports had reduced, which is old data."

The source said that companies had imported large quantities of copper in October and November, which then led to lower imports in the following months.

"We will fight the case, their case does not hold," the source said, declining to be identified as the government has not filed a formal response yet. Another source confirmed the government would defend its position.

The trade associations and India's mines ministry did not immediately respond to requests for comment.

DEMAND SURGE

Copper demand is expected to double by 2030 as India aims to meet the needs of its industries and the energy transition. Domestic companies in the copper industry include Hindalco Industries HALC.NS, Vedanta, Adani ADEL.NS, and the state-owned Hindustan Copper HCPR.NS.

India's refined copper production is estimated at around 555,000 tons per year, and New Delhi imports around 500,000 tons of copper a year to meet the shortfall. Imports have surged since the 2018 closure of Vedanta's domestic Sterlite Copper smelter

But in December, the government said that the ramp-up of Adani Enterprises' smelter would fulfil India's domestic requirement and cut down imports. It is expected to become operational over the next four weeks.

Japan accounts for about two-thirds of India's refined copper imports, followed by Tanzania and Mozambique.

There are currently 10 certified foreign copper suppliers, both sources said, seven of which are Japanese, and five more domestic certified suppliers.

(Reporting by Neha Arora; Editing by Rachna Uppal)

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April 10 (Reuters) - Hindustan Copper Ltd HCPR.NS:

• HINDUSTAN COPPER LTD - RESUMES ORE PRODUCTION AT KOLIHAN COPPER MINE

Source text: ID:nBSEbNy40L

Further company coverage: HCPR.NS

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By Neha Arora

NEW DELHI, April 4 (Reuters) - Indian officials will visit Chile next week to discuss plans for four state companies to take a stake in two lithium projects of the world's No. 2 producer of the metal, SQM SQMA.SN, a source said.

The world's fastest-growing major economy has ramped up efforts to secure a steady supply of lithium as demand rises for the metal used in electric vehicle batteries, key to emissions reduction efforts in the world's third-largest emitter.

Government-backed Khanij Bidesh India Ltd (KABIL), Coal India COAL.NS, Oil India OILI.NS, and ONGC Videsh ONVI.NS are in talks with SQM for stakes of 20% in its Mount Holland and Andover projects in Australia, Reuters reported last week.

The Indian delegation will hold discussions with top SQM executives when it travels to Chile next week for a global copper conference, the source said, speaking on condition of anonymity as the talks were not public.

Executives from state-run Hindustan Copper HCPR.NS and leading private copper firms Hindalco Industries HALC.NS and JSW are also expected to visit Chile, the source said.

Hindustan Copper told Reuters it will send a few executives to Chile to attend the copper conference and hold other meetings.

The mines ministry, Hindalco, and JSW did not respond to emails from Reuters to seek comments.

India and Chile held talks this week to renew a preliminary pact on geology and mineral resources.

This week Chile's state-owned Codelco, the world's largest copper producer, said it would supply copper concentrates to the $1.2-billion smelter of India's Adani Group, which is the world's largest single-location plant of its kind.

Codelco has also signed a separate preliminary pact with Hindustan Copper to collaborate on exploring and processing minerals.

India's copper imports have surged since the 2018 closure of Vedanta's VDAN.NS Sterlite Copper smelter, which produced around 400,000 metric tons of the metal.

It has recently stepped efforts to strike overseas deals for access to critical minerals in resource-rich countries such as Argentina, Australia, and Chile.

New Delhi is also exploring an initial agreement with cobalt-rich Congo.

(Reporting by Neha Arora; Editing by Mayank Bhardwaj; Editing by Clarence Fernandez)

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April 2 (Reuters) - Hindustan Copper Ltd HCPR.NS:

• HINDUSTAN COPPER LTD - SIGNS AGREEMENT WITH CODELCO FOR COOPERATION

• HINDUSTAN COPPER LTD - AGREEMENT AIMS FOR JOINT ACTIVITIES IN MINING EXPLORATION AND BENEFICIATION

Source text: ID:nBSE1TK7qY

Further company coverage: HCPR.NS

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By Neha Arora

NEW DELHI, March 28 (Reuters) - Four Indian state firms are in talks with Chilean miner SQM SQMA.SN to acquire a 20% stake in its two lithium projects in Australia for $600 million, four sources said, in New Delhi's biggest effort to secure supplies of the key EV battery metal.

Government-backed Khanij Bidesh India Ltd (KABIL) has partnered with Coal India COAL.NS, Oil India OILI.NS, and ONGC Videsh ONVI.NS to seek the 20% stake in SQM's Mount Holland and Andover lithium projects in Western Australia, the sources said.

The sources did not wish to be named as the deliberations were not public.

SQM is the world's second-largest lithium producer.

India, the world's fastest-growing major economy, has intensified efforts to secure a steady supply of lithium, anticipating a surge in demand for the EV battery metal, which is critical to reducing carbon emissions from the world's third-largest emitter.

"This is so far India's biggest attempt to secure lithium supplies overseas," one of the sources said. "The due diligence is on, and the companies have expressed their interest with an initial offer."

KABIL, along with the three state companies, is in the process of appointing a mergers and acquisitions adviser for the deal, the sources said.

SQM, KABIL, Coal India, Oil India, and ONGC Videsh did not respond to Reuters' requests for comment.

India's plans to acquire stakes in SQM's projects have not been reported previously.

New Delhi formed KABIL - a joint venture between the state-owned National Aluminium Company, Hindustan Copper, and Mineral Exploration and Consultancy - a few years ago to acquire, develop, and process strategic minerals overseas for use in India.

India has recently stepped up efforts to secure overseas agreements for accessing critical minerals in resource-rich nations like Argentina, Australia, and Chile.

New Delhi is also exploring an initial agreement with cobalt-rich Congo.

Last year, KABIL signed an exploration and development agreement with a state-owned firm in Argentina for the exploration and mining of five lithium blocks.

Amid growing energy needs, India is trying to encourage EV production to reduce its reliance on fossil fuels.

EV sales in India accounted for just 2.5% of the 4.3 million cars sold in 2024, but their 20% growth rate outpaced the overall car market's 5% growth. Analysts expect sales to double in 2025 from 100,000 units in the previous year, mainly due to new launches.

(Reporting by Neha Arora; additional reporting by Melanie Burton in Melbourne; editing by Mayank Bhardwaj and Sonali Paul)

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By Neha Arora

NEW DELHI, March 20 (Reuters) - India's steel-to-power conglomerate JSW Group plans to set up a 500,000 metric ton capacity copper smelter in the eastern state of Odisha by 2028/29 with feedstock of copper concentrate from Peru and Chile, a source directly aware of the matter told Reuters on Thursday.

In January, JSW said it was foraying into the copper business with a 26-billion-rupee ($301.22 million) investment to operate two copper mines from Hindustan Copper HCPR.NS for a period of 20 years, with the option to extend it for another decade.

The group now plans to set up its own smelter facility in Odisha with an investment of around 120 billion rupees and scale up the capacity to 1 million metric tons by 2033/34, the source said, declining to be identified as details about the proposed smelter are not public.

A JSW spokesperson redirected queries from Reuters to the January statement about the copper foray.

With this expansion, JSW will compete with Indian billionaire Gautam Adani's group that has set up a $1.2 billion copper smelter, the world's biggest single-location plant of its type in the western state of Gujarat.

JSW plans to feed its planned electric vehicle and battery manufacturing facilities with the copper produced at the smelter, the source added. Some of the concentrate supply will come from Hindustan Copper, the source said.

The chief executive of JSW's copper business, Pankaj Kumar, will be travelling to Chile early next month to meet with suppliers for potential copper concentrate deals, the source said.

India, which is dependent on copper imports to meet shortfalls, had listed copper among the identified 30 critical minerals in 2023 as part of the country's efforts towards a green energy transition.

India's copper imports have surged since the 2018 closure of Vedanta's Sterlite Copper smelter, which produced about 400,000 metric tons of the metal.

Currently only Hindalco Industries HALC.NS, part of India's Aditya Birla group, and state-run miner Hindustan Copper Ltd produce copper in the country.

India's refined copper production is estimated at around 555,000 metric tons per year against domestic consumption of more than 750,000 metric tons. India imports around 500,000 metric tons of copper a year to meet the shortfall.

New Delhi's drive towards clean energy and electric vehicles, and other similar shifts, are expected to double the country's copper demand by 2030, according to industry estimates.

($1 = 86.3150 Indian rupees)

(Reporting by Neha Arora; editing by David Evans)

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** Metal stocks in India slide as much as 5%, tracking a decline in most base metal prices

** Tata Steel TISC.NS, Hindalco HALC.NS, Vedanta VDAN.NS down 2.2%, 2.1% and 3.8%, respectively

** Base metal prices fall as U.S. President Donald Trump's 10% tariff on imports from top metals consumer China fuel trade war concerns

** The dollar surges vs other currencies on trade war fears, further weighing on base metal prices

** Nifty Metal .NIFTYMET index sheds over 2%, with Jindal Steel JNSP.NS, Steel Authority of India SAIL.NS, National Aluminium Co NALU.NS, and Hindustan Zinc HZNC.NS down 3-5%

** .NIFTYMET down 6.2% so far in 2025, underperforming benchmark Nifty 50 50 .NSEI which is down 1.5%

** Metal index up 8.4% in 2024 vs 8.8% gains in benchmark Nifty 50 index .NSEI

(Reporting by Vivek Kumar M)

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Adds executive comments, background in paragraphs 3 to 5

Jan 27 (Reuters) - 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.

The billionaire Sajjan Jindal-led group has won two blocks of copper mines in the eastern mineral-rich state of Jharkhand from Hindustan Copper HCPR.NS for a period of 20 years, with the option to extend it for another decade.

"Venturing into non-ferrous metals, particularly copper, is a strategic move," said Parth Jindal, the managing director of JSW Paints and the IPO-bound JSW Cement.

Steel production in India has been hit by low prices, weak demand from top consumer China and cheap Chinese steel flooding domestic markets -- the effect of which has led to the group's flagship firm JSW Steel JSTL.NS missing profit estimates for the past four quarters in a row.

With the expansion, JSW Steel will directly compete with Vedanta VDAN.NS, Hindalco HALC.NS, Hindustan Copper and Adani Copper - all of which currently dig up the brown metal used to make cables and wires.

Once ramped up, the mines will have a copper ore capacity of 3 million tonnes per annum (MTPA) and are expected to be part-operational in the second half of the fiscal year 2027, the group said in a statement.

($1 = 86.3290 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Mrigank Dhaniwala and Savio D'Souza)

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Jan 10 (Reuters) - Hindustan Copper Ltd HCPR.NS:

• APPOINTS SWML AS MINE DEVELOPER CUM OPERATOR

• RE-OPENING OF RAKHA MINE IN JHARKHAND

Source text: ID:nBSE1VTkFr

Further company coverage: HCPR.NS

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** Indian metal stocks sub index .NIFTYMET closes down 3.14%, lowest in nearly 9 months

** Sub index under pressure as a firmer dollar weighs on metal stocks MET/L nL1N3O203T

** USD at near 2-year high, making greenback-priced commodities more expensive for holders of other currencies

** Indian rupee INR=IN weakened to lifetime low on the day

** Hindustan Copper HCPR.NS top index loser; closed down 5.8% at 235.60 rupees ($2.75)

** Hindustan Zinc HZNC.NS closed down 4.76% at 446.80 rupees

** Sub-index has lost ~14.5% in 6 months

($1 = 85.7910 Indian rupees)

(Reporting by Ananta Agarwal in Bengaluru)

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