Adani's Kutch Copper Partners with Codelco for Chile Exploration

Adani's Kutch Copper signs an MoU with Chile's Codelco to explore the Kaburkaala copper project, strengthening India's access to critical minerals and linking Chilean resources with its Mundra smelter.

Kutch Copper Limited (KCL), a subsidiary of Adani Enterprises Limited, has signed a Memorandum of Understanding (MoU) with Chile's state-owned copper producer Corporación Nacional del Cobre de Chile (Codelco) to establish a strategic exploration partnership for the Kaburkaala copper project in northern Chile. The agreement aims to strengthen India's access to international copper resources and build a globally integrated copper supply chain connecting Chilean mining assets with Adani's copper smelting operations in Gujarat.

The project is located in the Calama copper belt in the Antofagasta Region, one of the world's prominent copper-producing districts. The MoU establishes the key terms of cooperation for the proposed exploration partnership. It was signed during the London Metal Exchange (LME) Week 2026 in London, in the presence of Jeet Adani, Director of Kutch Copper; Vinay Prakash, CEO of Adani Natural Resources; and Bernardo Fontaine, Chairman of Codelco.

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The agreement follows an earlier MoU signed between the companies in November 2025, under which their technical teams evaluated several copper exploration opportunities from Codelco's project portfolio. The assessment included technical due diligence and field reviews in Chile. Following the evaluation, Adani selected the Kaburkaala project and submitted a proposal to advance its exploration.

Under the proposed arrangement, Adani will contribute capital, technology-led exploration capabilities and large-scale project execution expertise. Codelco will provide its geological knowledge and international experience in copper exploration and mining. The partnership is expected to help advance the project while sharing exploration risks and accelerating the assessment of its development potential.

For Adani, the collaboration represents a strategic move to secure long-term access to copper resources and connect upstream mining opportunities in Chile with its integrated copper smelter complex at Mundra, Gujarat. Copper is an essential material for renewable energy systems, electric mobility, advanced manufacturing, infrastructure and digital technologies. Strengthening access to the metal is therefore important for supporting India's industrial expansion and energy transition.

Codelco views the proposed partnership as part of its strategy to unlock value from its exploration portfolio through public-private collaborations. Such arrangements allow the company to share investment risks, attract international expertise and advance projects with development potential while protecting the long-term interests of the company and the Chilean state.

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Jeet Adani said the partnership would support India's resource security and strengthen supply chains for critical industries. Bernardo Fontaine highlighted the agreement as an important step in the companies' year-long collaboration.

Both companies have committed to responsible exploration, strong safety standards, environmental stewardship and long-term value creation. The initiative also strengthens India-Chile cooperation in critical minerals and supports efforts to diversify global copper supply chains.