Adani Group's Kutch Copper Ltd (KCL) has signed a memorandum of understanding (MoU) with Chile's state-owned copper giant Codelco to jointly explore the Kaburkaala copper project in northern Chile, marking a significant step towards securing long-term supplies of a critical mineral for India's industrial and energy ambitions.

The proposed collaboration aims to connect Chilean copper resources with Adani's integrated copper smelter complex at Mundra in Gujarat, supporting the development of a globally diversified copper value chain. The agreement reflects growing efforts by Indian industry to secure overseas mineral assets amid rising demand for metals essential to electrification and clean energy technologies.

Under the terms of the MoU, the two companies will examine opportunities at the Kaburkaala project, located within Chile's Calama copper belt in the Antofagasta Region. The area is widely recognised as one of the world's most productive copper mining districts and is home to several major mining operations.

The agreement was signed during LME Week 2026 in London in the presence of Jeet Adani, Director of Kutch Copper, Vinay Prakash, Chief Executive Officer of Adani Natural Resources, and Bernardo Fontaine, Chairman of Codelco.

Highlighting the strategic significance of the partnership, Jeet Adani said: "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."

He further noted that copper has become indispensable to sectors such as renewable energy, advanced manufacturing, infrastructure and technology, all of which are expected to play a central role in India's long-term economic expansion.

For Adani, the proposed venture is expected to enhance access to copper resources at a time when global competition for critical minerals is intensifying. Copper is widely regarded as a cornerstone material for power networks, electric vehicles, battery systems, renewable energy installations and broader energy-transition infrastructure.

The company stated that the partnership would combine Adani's capital strength, technology-driven exploration capabilities and large-scale project execution experience with Codelco's geological expertise and extensive international mining knowledge.

Bernardo Fontaine described the agreement as an important milestone in the engagement between the two companies over the past year. He said: "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."

For Codelco, the initiative forms part of a broader strategy to advance exploration projects through public-private partnerships, enabling the company to share development risks while unlocking greater value from its exploration portfolio.

Both sides stated that any future work under the partnership would prioritise responsible exploration practices, high safety standards and strong environmental stewardship, while focusing on sustainable long-term value creation.

The development also reflects a broader trend of resource partnerships between mineral-rich nations and rapidly growing economies, as demand for copper continues to rise globally, driven by electrification, renewable energy deployment and expanding industrial activity.

India, which remains heavily dependent on imports for several critical minerals, has increasingly sought overseas resource partnerships to strengthen supply-chain resilience and support future manufacturing growth.

ANI