Adani Group, Codelco sign pact for copper exploration project
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Codelco signed an agreement with Adani Group’s Kutch Copper Limited on Wednesday to develop the Kaburkaala copper exploration project in Chile.
- ✓Adani will finance this work to secure long-term supplies for its Gujarat smelting complex.
- ✓This partnership helps India meet rising domestic copper demand and reduces its heavy import dependence.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Economic Times
- Reading Speed
- 1 Minute(s)
- Market Focus
- India Economy
Codelco has signed an agreement with Adani Group's Kutch Copper Limited to develop the Kaburkaala copper exploration project in the country's northern Antofagasta region. Adani will finance the project, which could help secure long-term copper supplies for its Mundra smelting complex in Gujarat. The partnership comes as India looks to strengthen its overseas copper sourcing amid rising domestic demand and dependence on imports.
Chile's state-run copper producer Codelco said on Wednesday it has signed a agreement with India's Adani Group to develop the Kaburkaala copper exploration project in Chile's northern region of Antofagasta.
The two companies agreed last year to a partnership and evaluated a number of potential Codelco copper projects before Adani selected Kaburkaala for exploration.
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