Kutch Copper (KCL), a unit of Adani Enterprises, 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.

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.