Hindustan Copper is planning to sell copper concentrate sourced from Chile to Indian companies Hindalco and Adani, according to two sources familiar with the discussions, reported Reuters.
The concentrate is expected to come from mines that Hindustan Copper is acquiring from Chilean state miner Codelco.
The move forms part of efforts to address India’s growing domestic demand for copper.
Three sources indicated that Hindustan Copper is also in talks to form a joint venture with Codelco to facilitate copper mining and sales, though these deliberations remain confidential.
Hindustan Copper, NTPC Mining and Coal India are discussing the acquisition of Codelco’s four copper mining blocks.
This follows an earlier statement from India’s mines secretary in April 2026 and a preliminary agreement between Hindustan Copper and Codelco last year aimed at identifying opportunities in exploration and mining.
In May 2026, Hindustan Copper entered into a non-disclosure agreement with Codelco and appointed an advisor for the potential deal.
Due diligence for the proposed partnership is ongoing, with Hindustan Copper said to be open to including Coal India and NTPC Mining as partners in the joint venture.
A technical team from the Indian companies visited Chile earlier this year, though sources suggest it could be a decade before mining and concentrate production begin.
India currently produces approximately 573,000 metric tonnes of refined copper a year, compared to a demand of 1.8 million tonnes.
The government has projected that India may need to import up to 97% of its copper concentrate requirements by 2047.
