Codelco signs deal with Adani for exploration in Chile

Chilean miner Codelco and India’s Adani Group have signed an agreement for a copper project exploration in Chile, Codelco said in a statement on Friday.

The agreement includes the review of three copper projects and sets the framework for potential joint development, the Chilean state-run miner said.

The non-binding deal between Codelco and Adani’s Kutch Copper subsidiary includes the exchange of technical and legal information on the three copper projects, the company added.

“We are creating a cross-border collaborative model that will ensure long-term copper supply for India,” Vinay Prakash, Adani’s CEO of Natural Resources, said.

Codelco, the world’s largest copper producer, has been strengthening its international alliances. On Thursday the company announced a partnership with Japan’s technology firm NTT DATA for artificial intelligence and robotics.

(By Daina Beth Solomon; Editing by Brendan O’Boyle)