Chilean state-owned mining giant Codelco, the world’s largest copper producer, has announced a landmark agreement to supply copper concentrates to the Adani Group’s metallurgical plant in India, valued at USD 1.2 billion. This deal marks a pivotal moment in the global copper market, with significant implications for the growth and diversification of India’s metallurgy industry.

The recent agreement between British mining company Anglo American Plc $AAL.L and Chilean state-owned company Codelco marks a significant step forward in copper extraction at the Los Bronces and Andina sites. This partnership not only aims to boost copper production but is also expected to generate a notable increase in net present value of at least $5 billion, which will be evenly distributed between the two companies.

Chilean state-owned mining company Codelco recently announced ambitious plans to reduce its indirect greenhouse gas emissions by 25% by 2030. This initiative is part of a broader decarbonization plan that addresses the increasing demand for copper in various industries. As the world's largest copper producer, Codelco is making strides to contribute to climate change mitigation while acknowledging the environmental impact of mining activities.