Adani Group has partnered with Chile’s state-owned copper producer Corporación Nacional del Cobre de Chile (Codelco) to explore the Kaburkaala copper project in northern Chile. The agreement was signed between Codelco and Kutch Copper Limited (KCL), a subsidiary of Adani Enterprises, establishing the key terms for a strategic exploration partnership.
The project is located in the Calama copper belt in the Antofagasta region, one of the world’s major copper-producing districts. Under the proposed arrangement, Adani will provide financing for exploration, while Codelco will contribute its geological expertise and international mining experience.
The partnership could eventually provide long-term copper supplies to Adani’s integrated copper smelting complex at Mundra in Gujarat.
Adani Selects Kaburkaala After Project Evaluation
The agreement builds on a partnership established between the two companies in 2025. Their technical teams evaluated several copper projects from Codelco’s exploration portfolio through a due diligence process that included site visits in Chile.
Following the assessment, Adani selected the Kaburkaala project and submitted a proposal to advance its exploration.
The MoU was signed during 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’s Board.
Linking Chilean Copper Resources with India’s Mundra Plant
For Adani, the proposed partnership is part of its strategy to build an integrated and globally diversified copper value chain. The plan is to connect upstream copper resources in Chile with its smelting operations at Mundra, Gujarat.
Kutch Copper is developing a large single-location custom copper smelter complex at Mundra. Securing access to overseas copper resources could support the plant’s long-term raw material requirements and strengthen the group’s position in the copper sector.
Jeet Adani described the partnership as a long-term investment in India’s resource security, highlighting copper’s importance to renewable energy, advanced manufacturing, infrastructure and technology.
Codelco Looks to Develop Exploration Portfolio
For Codelco, the agreement is part of its strategy to unlock value from its exploration portfolio through partnerships with private companies. Such collaborations can help share exploration risks and accelerate projects with development potential.
The company said the proposed partnership would combine Adani’s capital, technology-led exploration and large-scale project execution capabilities with Codelco’s geological knowledge and experience.
Both companies have stated that the exploration will focus on safety, environmental responsibility and long-term value creation.
Why Is Copper Important for India?
Copper is a critical raw material for power transmission, electric vehicles, renewable energy systems, electronics and infrastructure development. Rising demand from these sectors has increased India’s need for reliable copper supplies.
India continues to depend on imports to bridge the gap between domestic production and consumption. Overseas exploration partnerships are therefore becoming part of efforts to strengthen supply security.
The Adani-Codelco agreement marks a step in that direction. However, Kaburkaala remains at the exploration stage, and the companies have not announced a production timeline, resource estimate or expected commercial output.
