Chile's state-owned Codelco, the world's largest copper producer, will supply copper concentrates to India's Adani Group for its $1.2 billion smelter, the largest single-location facility of its kind. 

Supply is set to begin this year, following a meeting between Codelco chairman Maximo Pacheco and Adani Group chairman Gautam Adani at the conglomerate's headquarters in Ahmedabad, Gujarat. 

The smelter, known as Kutch Copper, started operations a year ago and recently established a joint venture to manufacture wires and cables. India's copper imports have significantly increased since the 2018 closure of Vedanta's Sterlite Copper smelter, which had produced approximately 400,000 metric tons of copper.

Currently, only Hindalco Industries, part of the Aditya Birla group, and state-run Hindustan Copper are producing copper in India. Additionally, Codelco has signed a preliminary agreement with Hindustan Copper to collaborate on mineral exploration and processing.