Adani Group's Kutch Copper Ltd (KCL) has signed a Memorandum of Understanding (MoU) with Chile's state-owned copper producer Corporación Nacional del Cobre de Chile (Codelco) to jointly explore the Kaburkaala copper project in northern Chile. The agreement outlines the terms of a strategic exploration partnership for the project, located in the Calama copper belt in the Antofagasta region, one of the world's leading copper-producing districts.

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

Under the proposed partnership, Adani will provide capital, technology-driven exploration capabilities and expertise in executing large-scale projects. Codelco will contribute its geological knowledge and international experience in copper exploration.

For Adani Group, the partnership supports its plan to build an integrated and globally diversified copper value chain. The group aims to connect copper resources in Chile with its copper smelting complex at Mundra in Gujarat. The project could also give Adani long-term access to copper, a critical mineral used in electrification, renewable energy, infrastructure, advanced manufacturing and the global energy transition.

Codelco, meanwhile, aims to unlock its exploration potential portfolio through partnerships with private companies. The collaboration will help share project risks and speed up the development of promising copper assets.

Speaking about the agreement, Jeet Adani said securing access to global copper resources was essential for India's long-term economic and industrial growth.

"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," he said.

"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," Adani added.

Codelco Chairman Bernardo Fontaine described the agreement as an important milestone in the company's engagement with Adani Group.

"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," Fontaine said.

The partnership is also expected to strengthen India-Chile cooperation in critical minerals. Both countries are looking to secure reliable supplies of resources required for industrial growth and energy transitions.

India depends on copper imports to meet domestic demand. Infrastructure development, electrification, renewable energy projects and manufacturing continue to drive consumption. Through the proposed Kaburkaala exploration project, Adani aims to strengthen its overseas resource access and support its downstream copper operations in India.