Kutch Copper Limited (KCL), a subsidiary of Adani Enterprises Limited, and Chile’s state-owned Corporación Nacional del Cobre de Chile (Codelco) have signed a Memorandum of Understanding (MoU) to establish the key terms for a strategic exploration partnership at the Kaburkaala project in the Calama copper belt of the Antofagasta Region in northern Chile.
The project is located in one of the world’s most significant copper-producing districts. The MoU was signed recently at LME Week 2026 in London in the presence of Jeet Adani, Director, KCL; Dr Vinay Prakash, CEO, Adani Natural Resources; and Bernardo Fontaine, Chairman of the Board, Codelco.
Commenting on the partnership, Jeet Adani, Director, Kutch Copper, said, “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. This partnership is a testament to our commitment to enhancing India’s resource security and supporting its journey to becoming a global economic powerhouse.”
Bernardo Fontaine, Chairman of the Board, Codelco, said, “This MoU represents an important step in the work we have carried out 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.”
The proposed partnership represents a strategic step for Adani towards developing an integrated and globally diversified copper value chain. It aims to connect upstream resource opportunities in Chile with KCL’s copper smelter complex at Mundra, Gujarat, while supporting long-term access to copper, a critical mineral for electrification and the global energy transition. For Codelco, the initiative forms part of its strategy to unlock value from its exploration portfolio through public-private partnerships, share risks and accelerate the development of copper projects with potential.
Under the proposed arrangement, Adani will contribute capital, technology-led exploration capabilities and large-scale project execution expertise. Codelco will bring its geological knowledge and international experience. Both companies intend to focus on responsible exploration, high standards of safety, environmental stewardship and long-term value creation. The collaboration also marks a step forward in India-Chile cooperation in critical minerals, as both countries seek to strengthen resource security and supply chains for industries supporting future economic growth.
Adani Enterprises Limited (AEL) is the flagship company of the Adani Group and has incubated and scaled businesses across ports, energy, utilities, logistics and primary industries. Kutch Copper Limited, a subsidiary of AEL, is developing a large single-location custom copper smelter complex at Mundra, Gujarat. The facility is designed around advanced technology, digitalisation and high ESG standards to support India’s self-reliance in critical metals.
Corporación Nacional del Cobre de Chile (Codelco) is a state-owned company of the Republic of Chile and one of the world’s largest copper producers. Headquartered in Santiago, it operates large-scale mining divisions across Chile and plays a significant role in global copper supply. The company focuses on responsible and sustainable mining, innovation and value creation for Chile, while pursuing partnerships to advance its exploration portfolio.
