Adani's Kutch Copper, Chile's Codelco sign MoU for exploration of copper project

Adani Group's Kutch Copper Ltd and Chile's state-owned copper producer Codelco have signed a memorandum of understanding (MoU) to explore a potential partnership for the development of the Kaburkaala copper project in northern Chile.

The MoU sets out the key terms for cooperation between Kutch Copper Ltd (KCL), a subsidiary of Adani Enterprises Ltd, and Corporación Nacional del Cobre de Chile (Codelco) for the exploration of the project located in the Calama copper belt of the Antofagasta region.

The agreement, seeking to combine Chile's copper resources with Adani's copper smelting operations at Mundra in Gujarat, is expected to strengthen the group's access to the metal that is increasingly important for electrification, renewable energy and infrastructure development.

The MoU was signed during the London Metal Exchange (LME) Week 2026 in London in the presence of Jeet Adani, Director of KCL, Vinay Prakash, CEO of Adani Natural Resources, and Bernardo Fontaine, Chairman of Codelco.

"More than just a mining asset, we view this strategic partnership as a long-term investment in India's future," Jeet Adani said.

"By securing robust access to global copper resources, we are building supply chain resilience for the critical industries driving our nation's growth—spanning renewable energy, advanced manufacturing, infrastructure, and technology," he added.

For Adani, the proposed partnership is part of its strategy to build an integrated and globally diversified copper value chain, linking upstream resources in Chile with its copper smelter complex at Mundra.

Codelco, on the other hand, is seeking to create value from its exploration portfolio through public-private partnerships, share project risks and accelerate the advancement of copper projects with development potential.

"This MoU represents an important step in the work we have carried out with Adani over the past year," Fontaine said.

"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 added.

While Adani, under the proposed arrangement, would contribute capital, technology-led exploration and large-scale project execution capabilities, Codelco would bring its geological expertise and international experience.

Both companies have committed to responsible exploration, high safety standards and environmental stewardship, the statement said.

The proposed collaboration also comes amid growing efforts by India to secure supplies of critical minerals and diversify sourcing partnerships.

Meanwhile, Kutch Copper on Wednesday said it had received the Veramark Assurance certification, formerly known as the Copper Mark, becoming the first Indian copper producer to secure recognition under the global framework for responsible copper production.

Kutch Copper operates a copper smelter complex at Mundra in Gujarat.