Adani Enterprises’ subsidiary Kutch Copper Ltd and Chile’s state-owned copper producer Corporacion Nacional del Cobre de Chile (Codelco) have signed a memorandum of understanding (MoU) to explore a potential partnership for the development of the Kaburkaala copper project in northern Chile, as the Adani Group looks to secure long-term access to the metal and build an integrated global copper supply chain.
The MoU lays out the key terms of cooperation for a proposed strategic exploration partnership at the project, located in the Calama copper belt in the Antofagasta region of Chile, one of the world’s major copper-producing districts, the company said in an official release. The agreement was signed recently at LME Week 2026 in London in the presence of Jeet Adani, director of Kutch Copper; Vinay Prakash, CEO of Adani Natural Resources; and Bernardo Fontaine, chairman of Codelco.
For Adani, the proposed partnership is expected to link upstream copper resources in Chile with its integrated copper smelting complex at Mundra in Gujarat, providing access to a key raw material used in electrification, renewable energy, infrastructure and advanced manufacturing. “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,” stated Jeet Adani.
“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.
Under the proposed arrangement, Adani would contribute capital, technology-led exploration capabilities and large-scale project execution expertise, while Codelco would bring its geological knowledge and international experience in copper exploration. Codelco said the proposed collaboration was part of its strategy to unlock value from its exploration portfolio through partnerships with private-sector companies, while sharing risks and accelerating the development of projects with potential.
“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,” Bernardo Fontaine of Codelco stated. The partnership also comes amid growing efforts by India to secure supplies of critical minerals and diversify sourcing of raw materials required for its energy transition and industrial expansion.
Published on November 12, 2026
