Key Details of the MoU

  • Kutch Copper Ltd (KCL) and Corporación Nacional del Cobre de Chile (Codelco) have signed a Memorandum of Understanding for exploration partnership at the Kaburkaala copper project.
  • The project is located in the Calama copper belt of the Antofagasta Region in northern Chile, described as one of the most prolific copper districts in the world.
  • The MoU sets out key terms of cooperation for forming a strategic exploration partnership.

Signing Event Details

  • The MoU was signed recently during LME Week 2026 in London.
  • Signing ceremony attended by Shri Jeet Adani (Director, KCL), Dr. Vinay Prakash (CEO, Adani Natural Resources), and Mr. Bernardo Fontaine (Chairman, Codelco).

Strategic Rationale and Purpose

For Adani:

  • Building an integrated globally diversified copper value chain
  • Linking upstream resources in Chile with its copper smelter complex at Mundra, India
  • Securing long-term access to copper, which is key to electrification and global energy transition
  • Viewed as a long-term investment in India's future and building supply chain resilience for critical industries including renewable energy, advanced manufacturing, infrastructure, and technology

For Codelco:

  • Part of strategy to create value from its exploration portfolio through public-private partnerships
  • Sharing risks and accelerating advancement of copper projects with development potential
  • Demonstrates ability to attract world-class partners while safeguarding long-term interests of the company and State of Chile

Exploration Partnership Terms

  • Adani will contribute capital, technology-led exploration, and large-scale project execution capability
  • Codelco will contribute deep geological knowledge and international experience
  • Both companies committed to responsible exploration, high standards of safety, environmental stewardship, and long-term value creation

Broader Implications

  • Strengthens India-Chile cooperation in critical minerals
  • Occurs at a time when resource security has become a strategic priority for both nations

Company Background Information

Kutch Copper Limited is a subsidiary of Adani Enterprises Limited developing one of the world's largest single-location custom copper smelter complexes at Mundra, Gujarat, designed with state-of-the-art technology, digitalization and high ESG standards.

Corporación Nacional del Cobre de Chile (Codelco) is a state-owned company of the Republic of Chile and one of the world's largest copper producers, headquartered in Santiago with mining divisions across Chile.

Financial Impact

Financial impact not quantified in the disclosure. The MoU represents an exploration partnership agreement with future development potential.