Adani digs into Chile for a copper lifeline to India

Listen to this article in summarized format Listen Loading... × × Subscribe to Unlock AI Briefing and Premium Content New Year Offer 24 Hours Left Subscribe Now Already a member? Sign In What's Included Exclusive Stories Daily ePaper Access Smart Market Tools Curated Investment Ideas Ad-lite Experience Subscription ET Online Adani Group 's Kutch Copper Ltd (KCL) on Thursday 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 sets out the key terms of cooperation for exploring the project, located in the Calama copper belt in the Antofagasta region, one of the world's most prolific copper-producing districts. The MoU was signed during LME Week 2026 in London in the presence of Kutch Copper Director Jeet Adani, Adani Natural Resources CEO Vinay Prakash and Codelco Chairman Bernardo Fontaine. ET Online Adani-Codelco partnership: What does the copper exploration deal involve? Under the proposed partnership, Adani will contribute capital, technology-led exploration capabilities and large-scale project execution expertise to advance the Kaburkaala project. Codelco will bring its geological expertise and international experience in copper exploration. Read more - China’s army-linked university was served Nvidia chips despite US sanctions For Adani Group, the partnership is part of its strategy to build an integrated and globally diversified copper value chain, connecting upstream resources in Chile with its copper smelting complex at Mundra in Gujarat. Live Events The arrangement could also provide Adani with long-term access to copper, a critical mineral used in electrification, renewable energy, infrastructure, advanced manufacturing and the global energy transition. For Codelco, the proposed collaboration is part of its efforts to unlock value from its exploration portfolio through public-private partnerships, share project risks and accelerate the development of promising copper assets. Jeet Adani on securing India's copper supply Commenting on the agreement, Jeet Adani said securing access to global copper resources was important for India's long-term economic and industrial growth. "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," he 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. This partnership is a testament to our commitment to enhancing India's resource security and supporting its journey to becoming a global economic powerhouse," Adani added. What Codelco said about its partnership with Adani Codelco chairman Bernardo Fontaine said the agreement marked an important step in the company's engagement with Adani Group over the past year. "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," Fontaine said. The proposed collaboration is also expected to strengthen India-Chile cooperation in critical minerals, as both countries look to secure reliable supplies of resources needed for their industrial and energy transitions. Why is Adani Group looking at copper resources in Chile? India relies on copper imports to meet domestic demand, with consumption supported by infrastructure development, electrification, renewable energy projects and manufacturing. Adani's proposed exploration partnership with Codelco could help strengthen its access to overseas copper resources and support its downstream operations in India. By linking the Kaburkaala project in Chile with its Mundra copper smelting complex, the group is looking to develop a more integrated copper supply chain. Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel ) Read More News on Adani Group Codelco Adani copper project Kaburkaala copper project Chile copper exploration Kutch Copper Limited Gautam Adani Mundra copper smelter India copper imports Adani Group Chile deal (Catch all the Business News , Breaking News and Latest News Updates on The Economic Times .) Subscribe to The Economic Times Prime and read the ET ePaper online. ... more less (You can now subscribe to our Economic Times WhatsApp channel ) Read More News on Adani Group Codelco Adani copper project Kaburkaala copper project Chile copper exploration Kutch Copper Limited Gautam Adani Mundra copper smelter India copper imports Adani Group Chile deal (Catch all the Business News , Breaking News and Latest News Updates on The Economic Times .) Subscribe to The Economic Times Prime and read the ET ePaper online. ... more less