Kutch Copper Ltd (KCL), a unit of Adani Enterprises Ltd, and Corporación Nacional del Cobre de Chile (Codelco) today said they have signed a Memorandum of Understanding (MoU) for setting key terms of cooperation for forming a strategic exploration partnership at the Kaburkaala project in Calama copper belt of the Antofagasta Region in northern Chile, one of the most prolific copper districts in the world.
The MoU was signed recently in presence of Shri. Jeet Adani, Director KCL, Dr. Vinay Prakash, CEO Adani Natural Resources and Mr Bernando Fontaine, Chairman Codelco, at LME Week 2026 in London.
“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,” said Jeet Adani, Director, KCL.
“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,” said Bernardo Fontaine, Chairman of the Board, Codelco.
For Adani, the proposed partnership, is a strategic step in building an integrated globally diversified copper value chain, linking upstream resources in Chile with its copper smelter complex at Mundra, India and securing long term access to a mineral that is key to electrification and global energy transition.
For Codelco, this initiative is part of its strategy to create value from its exploration portfolio through public private partnerships, sharing risks and accelerating the advancement of copper projects with development potential.
The collaboration also strengthens India-Chile cooperation in critical minerals at a time when resource security has become a strategic priority for both nations.
The proposed partnership would enable exploration of the Kaburkaala project to advance through Adani’s contribution of capital, technology-led exploration and large-scale project execution capability, combined with Codelco’s deep geological knowledge and international experience, with both companies focused on responsible exploration, high standards of safety and environmental stewardship, and long-term value creation.
