Adani’s Kutch Copper and Chile’s Codelco Sign MoU for Kaburkaala Copper Exploration

Ahmedabad: Kutch Copper Ltd (KCL), a subsidiary of Adani Enterprises Ltd, and Corporación Nacional del Cobre de Chile (Codelco) have signed a Memorandum of Understanding to set the framework for a potential strategic exploration partnership at the Kaburkaala copper project in northern Chile.

The project lies in the Calama copper belt of the Antofagasta Region, one of the world’s richest copper-producing districts. The MoU was signed during LME Week 2026 in London in the presence of Jeet Adani, Director of KCL; Dr Vinay Prakash, CEO of Adani Natural Resources; and Bernardo Fontaine, Chairman of Codelco.

Jeet Adani said the partnership goes beyond a single mining asset. “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—spanning renewable energy, advanced manufacturing, infrastructure, and technology,” he said.

Bernardo Fontaine described the agreement as an important milestone in the companies’ engagement over the past year. He noted that it demonstrates Codelco’s ability to attract strong international partners and unlock value from its exploration assets while protecting the long-term interests of the company and the Chilean state.

For Adani, the collaboration forms part of a broader plan to build an integrated, globally diversified copper value chain. Upstream resources in Chile would be linked to Kutch Copper’s large-scale smelter complex under development at Mundra in Gujarat, helping secure long-term supply of a metal essential for electrification and the energy transition.

Codelco sees the partnership as consistent with its strategy of advancing promising exploration projects through public-private collaboration, sharing risk and accelerating development.

Both sides have emphasised responsible exploration practices, high safety and environmental standards, and long-term value creation. The MoU also reinforces growing India-Chile cooperation in critical minerals at a time when resource security ranks high on both nations’ agendas.

Kutch Copper is developing one of the world’s largest single-location custom copper smelter complexes at Mundra, focused on advanced technology and high ESG standards. Codelco, Chile’s state-owned copper producer and one of the largest globally, operates major mining divisions across the country and continues to seek partners to progress its exploration portfolio.