Adani Enterprises arm inks MoU with Chile's Codelco for mining exploration

Résumé détaillé

The Ahmedabad-based company said that Kutch Copper Ltd (KCL), a unit of Adani Enterprises, and Corporación Nacional del Cobre de Chile (Codelco) signed a MoU for setting key terms…

Adani Enterprises shares are trading higher on Thursday, November 12, after the company announced that its arm, Kutch Copper Ltd (KCL), signed a strategic MoU with Chile’s Codelco for mining exploration of the Kaburkaala Project in Chile.

In an exchange filing issued on Thursday, the Ahmedabad-based company said that Kutch Copper Ltd (KCL), a unit of Adani Enterprises, and Corporación Nacional del Cobre de Chile (Codelco) signed a Memorandum of Understanding (MoU) for setting key terms of cooperation for forming a strategic exploration partnership for the Kaburkaala project in the Calama copper belt of the Antofagasta Region in northern Chile.

Jeet Adani, Director, KCL, while speaking on the agreement, said, “Critical resources, led by copper, are at the very heart of our future transformation. More than just a mining asset, we view this strategic partnership as a long-term investment in India's future."

"By securing robust access to global copper resources, we are building supply chain resilience for the critical industries driving our nation's growth—spanning renewable energy, advanced manufacturing, infrastructure, and technology." he added.

Looking at the company's results from Q2, the company reported its earnings for the second quarter on October 28.

In the September-ended quarter, the Adani Group’s flagship company posted a 75.1% year-on-year (YoY) rise in revenue from operations to ₹37,215 crore in Q2FY27. However, profit after tax (PAT) fell 54.8% to ₹1,492 crore.

Profit in the year-earlier quarter included an exceptional gain of ₹3,583 crore, which was not recorded in the September 2026 quarter.

Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 65.9% YoY to ₹5,651 crore, up from ₹3,407 crore a year earlier. The EBITDA margin, however, narrowed by 80 basis points to 15.2%, compared with 16% in the corresponding quarter of the previous year.

The company’s consolidated results also reported first-half FY27 revenue from operations of…

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