Business · Companies · 1 hr ago
Adani to fund copper exploration project in Chile
India’s Adani Group will finance copper exploration in Chile under an agreement with state-owned producer Codelco.
The project, called Kaburkaala, is in the Antofagasta region of northern Chile.
The copper could supply Adani’s smelting complex in Mundra, India, over the long term.
The companies agreed to work together last year and assessed several possible Codelco projects before Adani chose Kaburkaala.
India imports copper to meet a supply shortfall and strong demand, and has been seeking overseas investments to strengthen its supply.
The agreement was signed by Codelco and Kutch Copper Limited, part of Adani Group.
The project is at the exploration stage, and the supplied information gives no timeline for development or production.
Chile’s state-run Codelco signed an agreement with India’s Adani Group to develop the Kaburkaala copper exploration project.
The project is in Chile’s northern Antofagasta region.
Adani will finance the project, which could provide long-term copper supplies for its Mundra smelting complex in India.
The agreement was signed by Codelco and Kutch Copper Limited, part of Adani Group.
- Who
- Chilean state copper producer Codelco and Kutch Copper Limited, part of Adani Group.
- What
- They signed an agreement to develop the Kaburkaala copper exploration project, with Adani providing financing.
- When
- Wednesday; the article was published on November 12, 2026.
- Where
- The project is in Chile’s Antofagasta region. The potential copper supply is for Adani’s smelting complex in Mundra, India.
- Why
- The project could provide long-term copper supply for the Mundra complex.
This story does not have two clearly opposing sides.
Codelco and Adani agreed to a partnership.
The companies evaluated potential Codelco copper projects, and Adani selected Kaburkaala for exploration.
Codelco and Kutch Copper Limited signed the agreement to develop the project.
- Project
- Kaburkaala copper exploration project
- Location
- Antofagasta, northern Chile
- Financing
- Adani Group
- Potential supply destination
- Adani’s smelting complex in Mundra, India
- Agreement signatories
- Codelco and Kutch Copper Limited