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Adani Group's Kutch Copper Ltd (KCL) has signed a memorandum of understanding (MoU) with Chile's state-owned copper producer Codelco to explore the Kaburkaala copper project in northern Chile, in a move aimed at securing long-term access to the critical mineral and strengthening India's copper supply chain.
The proposed partnership will link copper resources in Chile with Adani's integrated copper smelter complex at Mundra in Gujarat, creating an opportunity for the group to develop a globally diversified copper value chain, according to the company's press release. The MoU sets out the key terms for cooperation in exploring the Kaburkaala project, located in the Calama copper belt in Chile's Antofagasta Region. The project is situated in one of the world's major copper-producing districts. The agreement was signed in the presence of Jeet Adani, Director of Kutch Copper, Vinay Prakash, CEO of Adani Natural Resources, and Bernardo Fontaine, Chairman of Codelco, during LME Week 2026 in London. Jeet Adani said securing access to global copper resources was important for India's future industrial and energy requirements. "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," he said. He added that copper was central to sectors including renewable energy, advanced manufacturing, infrastructure and technology. For Adani, the proposed partnership is intended to provide long-term access to copper, a mineral considered important for electrification and the global energy transition. The company said the arrangement would combine its capital, technology-led exploration and large-scale project execution capabilities with Codelco's geological expertise and international experience. Codelco Chairman Bernardo Fontaine said the agreement marked an important step in the company's engagement 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," he said. For Codelco, the initiative is part of its strategy to advance exploration projects through public-private partnerships, share risks and unlock value from its exploration portfolio. Both companies said the proposed collaboration would focus on responsible exploration, safety and environmental standards, with an emphasis on long-term value creation. (ANI)
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