According to a report by BNAmericas, Chilean President Boric and Indian Prime Minister Modi signed a strategic cooperation agreement—including provisions on critical minerals—aimed at expanding trade, particularly with mining product partners.

Meanwhile, Chile’s state-owned copper company (Codelco) is closely collaborating with the Adani Group and Hindustan Copper.

Recently, Boric visited India with the aim of boosting bilateral trade, attracting investment, and expanding business opportunities. The leaders of the two countries also announced plans to negotiate a broader economic cooperation agreement.

In 2024, India became Chile’s fourth-largest trading partner, with bilateral trade reaching US$3.8 billion, an increase of 35.4%.

Official data show that from 2019 to 2024, Chile’s copper exports to India grew at an average annual rate of 17.3%. According to data from Chile’s National Copper Committee (Cochilco), in 2024, Chile exported 170,185 tons of copper to India, the highest level in the past five years.

Codelco President Máximo Pacheco signed a memorandum of understanding with representatives from Hindustan Copper, covering cooperation in mineral exploration, mining, and processing. He also met with senior executives from Adani, a company active in sectors such as infrastructure and energy production.

“We are constantly striving to maximize the company’s value. Visiting India, the world’s fifth-largest economy—and in particular, Adani Group, one of the world’s largest industrial conglomerates—can create opportunities for deepening bilateral relations, continuously expanding business diversification, and strengthening partnership networks,” Pacheco said in a statement.

Pacheco also met with representatives from Kutch Copper, a subsidiary of the Adani Group, which is building a smelter in Mundra. Starting this year, Codelco will supply it with copper concentrate.

Anil Agarwal, Executive Chairman of Vedanta Group, stated that India’s mining potential is also immense, as “to date, only 20% of its geological potential has been tapped, presenting numerous opportunities for global investors and partner countries.”