Adani Group's Kutch Copper Ltd. is teaming up with Chilean giant Codelco to check out the Kaburkaala copper project in Antofagasta.
Adani will fund the exploration, aiming to help India keep up with its growing need for copper and cut down on relying so much on imports.
Could secure Adani's Mundra copper supplies
This move could help Adani secure long-term copper supplies for its Mundra smelting plant in Gujarat.
After reviewing several options, Adani selected Kaburkaala for exploration.
The deal also shows how serious India is about building a stronger, more reliable copper supply chain for its fast-growing economy.