Hindustan Copper Ltd. Plans Chilean Mine Acquisition to End Deficit

Hindustan Copper Ltd. is negotiating a joint venture with the Chilean state-run mining company Codelco to acquire four copper mining blocks and sell the resulting concentrate to Indian firms Hindalco Industries Ltd. and the Adani Group. This strategic move aims to reduce India's reliance on imports, as the country produces only 573,000 metric tons of refined copper annually against a demand of 1.8 million tons.

The initiative follows a preliminary agreement signed in 2025 and a non-disclosure agreement signed in May 2026. Technical teams have already visited Chile to advance the project. Hindustan Copper Ltd. is exploring the joint venture with Codelco and may include state-run partners Coal India and NTPC Mining Ltd to secure the mining blocks.

While the project aligns with Indian government goals to secure copper supplies through free trade pact talks with Chile, sources indicate that actual mining operations and concentrate production may take a decade to begin. The planned supply chain would feed into domestic facilities, such as the Adani Group's Kutch Copper smelter in Gujarat.