AntofagastaAdani will finance Codelco’s Kaburkaala copper exploration in northern Chile.
India imports copper to cover shortfalls, and October’s price was 35.1% above a year earlier.
Adani’s unit Kutch Copper Limited signed the deal, and financing could give its Mundra smelter long-term supply, Codelco said.
The statement gives no figure for Adani’s financing or Mundra’s supply.
How each outlet framed it
- Reuters
- names the Kaburkaala project and says Adani's financing would supply its Mundra smelting complex, framing it as India's supply-security play
Sources: Reuters