Adani Enterprises arm Kutch Copper signed an MoU with Chile’s Codelco on 12 November to explore copper at the Kaburkaala project.

The Ahmedabad-based company shared the news on Thursday in an exchange filing.

Kutch Copper Ltd (KCL), a unit of Adani Enterprises, and Corporación Nacional del Cobre de Chile, better known as Codelco, have agreed the main terms for a strategic exploration partnership.

The Kaburkaala project sits in the Calama copper belt, in the Antofagasta Region of northern Chile.

Exploration is the early stage of mining. Teams study the ground to learn how much copper is there and whether digging it out makes sense.

Copper is widely used in power cables and clean energy equipment.

An MoU, or memorandum of understanding, is a written note of what two sides plan to do together before they sign a full contract. So this is a first step, not a finished partnership.

Jeet Adani, a director at KCL, called the tie-up ‘a long-term investment in India’s future’.

He said secure access to copper abroad would make supply chains steadier for Indian industries such as renewable energy, manufacturing, infrastructure and technology.

Adani Enterprises reported its September-quarter results on 28 October.

Revenue from operations rose 75.1% from a year earlier to Rs 37,215 crore, while EBITDA, a measure of operating profit, climbed 65.9% to Rs 5,651 crore.

Profit after tax moved the other way. It fell 54.8% to Rs 1,492 crore, as the year-earlier quarter had included a one-time gain of Rs 3,583 crore. The EBITDA margin also narrowed to 15.2% from 16%.

For the first half of FY27, revenue from operations stood at Rs 70,140 crore, against Rs 43,210 crore a year earlier.

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