Adani’s Kutch Copper, Chile’s Codelco join hands to explore copper project in Northern Chile

Kutch Copper Ltd (KCL), a subsidiary of Adani Enterprises Ltd, has signed a memorandum of understanding (MoU) with Chile’s state-owned copper producer Corporación Nacional del Cobre de Chile (Codelco) to explore a strategic partnership for the Kaburkaala copper project in northern Chile.

The MoU sets out the key terms of cooperation for a potential exploration partnership at the project, located in the Calama copper belt of the Antofagasta Region, one of the world's major copper-producing districts, according to an official statement.

“Kutch Copper Ltd (KCL), a unit of Adani Enterprises Ltd, and Corporación Nacional del Cobre de Chile (Codelco) today said they have signed a Memorandum of Understanding (MoU) to set the key terms of cooperation for a strategic exploration partnership at the Kaburkaala project in the Calama copper belt of the Antofagasta Region in northern Chile, one of the most prolific copper districts in the world,” the release said.

The agreement was signed recently in the presence of Jeet Adani, Director of KCL; Vinay Prakash, CEO of Adani Natural Resources; and Bernardo Fontaine, Chairman of Codelco, during LME Week 2026 in London.

The proposed partnership aims to connect copper resources in Chile with Adani's integrated copper smelter complex at Mundra in Gujarat, strengthening the group's access to the metal and helping build an integrated global copper value chain.

Partnership to strengthen India’s copper security

"Critical resources, led by copper, are at the very heart of our future transformation. More than just a mining asset, we view this strategic partnership as a long-term investment in India's future. By securing robust access to global copper resources, we are building supply chain resilience for the critical industries driving our nation's growth," Jeet Adani said.

He added that the partnership would support India's resource security and its ambitions in renewable energy, advanced manufacturing, infrastructure and technology.

For Codelco, the proposed collaboration is part of its strategy to unlock value from its exploration portfolio through partnerships with private players, share investment risks and accelerate the development of projects with potential.

"This MoU represents an important step in the work we have carried out with Adani over the past year. This process demonstrates Codelco's ability to attract world-class partners and create value from its exploration portfolio, while safeguarding the long-term interests of the company and the State of Chile," Bernardo Fontaine said.

Under the proposed arrangement, Adani would contribute capital, technology-led exploration capabilities and large-scale project execution expertise, while Codelco would bring its geological knowledge and international experience in copper exploration, the release noted.

Both companies have said the collaboration would focus on responsible exploration, high standards of safety, environmental stewardship and long-term value creation.

The partnership also comes amid growing emphasis on critical mineral supply chains and resource security, strengthening cooperation between India and Chile in the copper sector.

Kutch Copper is developing a large, single-location custom copper smelter complex at Mundra, Gujarat, designed to support India's growing demand for the metal and reduce dependence on imports. Copper is a key input for electrification, renewable energy infrastructure, electric vehicles and power transmission networks.