State-owned Hindustan Copper Ltd (HCL) on Friday said it has hired a transaction advisor to support its entry into Chile’s copper belt and to scout acquisition prospects.
In a filing to BSE, Hindustan Copper said that the “the company has executed non-disclosure and Confidentiality Agreement (NDA) with CODELCO (Corporacion Nacional Del Cobre De Chile) and engaged a Transaction Advisor for entering the Chilean Mining sector and further acquisition.”.
“Also, a team of HCL along with team of its MOU partners have visited few exploration sites at Chile from April 20 to April 30, 2026 for site study of copper blocks. The work in this regard is under progress.” CODELCO is the state-owned copper mining company of Chile.
Mines minister G Kishan Reddy had earlier stressed India’s commitment to strengthening cooperation with Chile in copper, lithium, and other critical minerals, highlighting the growing importance of these minerals in India’s industrial growth and sustainable energy transition.
Chile, being a global leader in copper and lithium production, offers significant opportunities for Indian companies looking to secure access to these minerals through Greenfield and Brownfield mining projects.
A delegation of mining experts from Chile had earlier visited various units of Hindustan Copper to assess mining and operational aspects and explore opportunities for knowledge sharing and value addition.
The development followed a memorandum of understanding (MoU) between HCL and CODELCO in the presence of the Prime Minister Narendra Modi and President of Chile Gabriel Boric Font last year.
The MoU focuses on sharing knowledge and best practices to facilitate exploration, mining, and mineral beneficiation, along with employee training and capacity building.
Hindustan Copper Ltd (HCL) is a central public sector enterprise under the administrative control of the Ministry of Mines. It is the only company in India engaged in copper ore mining and holds all the operating mining leases for copper ore in the country.