Adani’s Kutch Copper Signs MoU With Chile’s Codelco To Explore Kaburkaala Copper Project In Northern Chile

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

The project sits in the Calama copper belt in the Antofagasta Region, an area known for its copper deposits. The agreement lays down the broad terms under which the two companies could work together on exploration.

The Kutch Copper Codelco MoU was signed during LME Week 2026 in London. Jeet Adani, Director of Kutch Copper, Vinay Prakash, CEO of Adani Natural Resources, and Bernardo Fontaine, Chairman of Codelco, were present at the signing.

What Is Adani Looking To Gain From The Deal?

The Chile project could give Adani a route to copper resources outside India. The Adani Group plans to connect these resources with its copper smelter complex at Mundra in Gujarat. This can bring the mining and processing sides of its business closer together.

The two companies are expected to contribute different strengths to the proposed arrangement. Adani would provide funding, technology-led exploration capabilities and experience in executing large projects. Codelco would bring its understanding of the region's geology and its experience in copper exploration.

Jeet Adani described the proposed tie-up as a long-term investment in India's resource security. He said reliable access to copper would matter for industries linked to renewable energy, infrastructure, technology and advanced manufacturing.

Why Is Codelco Interested In The Partnership?

Codelco is also looking to make better use of its exploration portfolio. Working with private companies could help it share the financial risks involved in exploration and move promising projects forward.

Chairman Bernardo Fontaine said the agreement followed a year of engagement with Adani. He also pointed to the opportunity to create value from Codelco's exploration assets while protecting the interests of the company and the Chilean state.

For India, the proposed arrangement comes at a time when securing supplies of critical minerals is becoming increasingly important. Copper is widely used in electric vehicles, power networks and renewable energy infrastructure. Kutch Copper is setting up its smelter complex at Mundra, Gujarat, to produce copper for Indian industries that currently depend partly on overseas supplies.

Sources

Adani

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