State-owned Hindustan Copper Ltd (HCL) announced on Friday that it has engaged a transaction advisor to facilitate its entry into Chile’s copper mining sector and to identify potential acquisition opportunities. In a filing to the Bombay Stock Exchange (BSE), HCL confirmed that it has signed a non-disclosure and confidentiality agreement with CODELCO (Corporacion Nacional Del Cobre De Chile) to support its efforts.
Additionally, a team from HCL, accompanied by representatives from its memorandum of understanding (MoU) partners, visited several exploration sites in Chile from April 20 to April 30, 2026, to assess potential copper blocks. The company stated that work on this initiative is ongoing. CODELCO is recognized as Chile’s state-owned copper mining entity.
G Kishan Reddy, the Minister of Mines, has previously underscored India’s dedication to enhancing collaboration with Chile regarding copper, lithium, and other essential minerals, pointing out their significance in India’s industrial development and transition to sustainable energy.
As a global leader in the production of copper and lithium, Chile presents substantial opportunities for Indian firms aiming to secure access to these minerals through both Greenfield and Brownfield mining projects.
Earlier, a delegation of Chilean mining experts visited various units of Hindustan Copper to evaluate operational aspects and discuss opportunities for knowledge sharing and value addition. This recent development follows the signing of a memorandum of understanding between HCL and CODELCO, witnessed by Prime Minister Narendra Modi and Chilean President Gabriel Boric Font last year.
The MoU is designed to promote knowledge exchange and best practices in the fields of exploration, mining, and mineral processing while focusing on employee training and capacity building.
Hindustan Copper Ltd operates as a central public sector enterprise under the Ministry of Mines and is the sole entity engaged in copper ore mining in India, controlling all operational leases for copper ore within the country.
Published on May 15, 2026.
