India and Chile Sign MoU to Strengthen Cooperation in Copper Mining

India and Chile have signed a Memorandum of Understanding (MoU) to work on cooperation in the mining sector, with a focus on copper and other critical minerals. The announcement was made during the India-Chile Mining Industry Round Table held in New Delhi.

Delegations from Both Nations

The Indian delegation was led by Shri G. Kishan Reddy, Minister of Coal & Mines, along with Shri V. L. Kantha Rao, Secretary, Ministry of Mines. Representatives from companies such as Coal India Limited (CIL), Hindustan Copper Limited (HCL), Hindalco, Vedanta, Adani, JSW, and JSPL were also present. The Chilean side was headed by H.E. Aurora Williams, Minister of Mines, Chile.

Discussion Areas

The roundtable, organised by the International Copper Association, India, focused on expanding cooperation in mineral exploration, sustainable mining practices, and value-added mineral processing. Discussions also covered the renewal of the existing India-Chile MoU on Geology and Mineral Resources.

Copper and Critical Minerals

India’s demand for critical minerals, including copper and lithium, has been rising due to growth in sectors like electric mobility, renewable energy, and electronics. The MoU aims to support this demand by facilitating access to these resources through bilateral collaboration.

Chile, as the world’s leading producer of copper and a major source of lithium, offers opportunities for Indian firms to invest in Greenfield and Brownfield projects, as per the reports. The agreement also opens up possibilities for joint ventures, long-term supply arrangements, and cross-border investments.

The two countries strengthened their bilateral ties at an event in Hyderabad House by signing three MoUs and an agreement. A further agreement was reached between CODELCO, a World’s biggest copper producer of Chile, and Hindustan Copper Limited of India for cooperation and information exchange.

“It will help us identify and implement joint activities, including a strategic partnership in the sphere of exploration of mining properties, meaning the mines, and mineral beneficiation through sharing of experiences and knowledge, allowing both sides to enhance their capabilities,” said P. Kumaran, Secretary (East) in the Ministry of External Affairs.

In recent years, Chile’s state-owned CODELCO, the world’s largest copper producer, has been actively pursuing market expansion in India through talks with Indian stakeholders, aiming to decrease its reliance on the Chinese market.

Technology and Supply Chain

The discussions included the potential for technology transfer and the adoption of sustainable mining practices. Strengthening the global mineral supply chain was identified as a priority for both countries.

Conclusion

The MoU between India and Chile sets the groundwork for better cooperation in mining, particularly in copper and critical minerals. It outlines shared objectives in exploration, sustainability, and securing long-term mineral resources.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.