Ahmedabad, Nov 6 (NationPress) — On Thursday, Caravel Minerals Ltd disclosed a significant non-binding MoU with Kutch Copper Ltd (KCL), a subsidiary of Adani Enterprises Ltd (AEL), initiating a key partnership for the prestigious Caravel Copper Project in the Murchison region of Western Australia.

The collaboration aims to explore investment and offtake opportunities to expedite project development towards a Final Investment Decision (FID) expected in 2026, integrating Caravel’s exceptional resource with Adani’s established smelting, processing, and logistics expertise.

Moreover, the MoU specifies collaborative workstreams, such as joint engineering to enhance product specifications for Kutch Copper’s downstream facilities, cooperative procurement to hasten delivery timelines, and leveraging the India-Australia FTA (Free Trade Agreement) to foster cross-border resource development and workforce training.

“Copper is fundamental to the global energy transition, and our association with Caravel Minerals reinforces India’s and Australia’s roles in establishing a resilient and responsible supply chain for this critical metal,” stated Dr. Vinay Prakash, CEO, Natural Resources, Adani.

“Kutch Copper, with its top-notch infrastructure and ESG standards, is thrilled to partner with Caravel to establish a model of sustainable value creation across continents,” he added.

This alliance also sets up an exclusive framework for negotiating a life-of-mine offtake agreement covering up to 100 percent of Caravel’s copper concentrate production, anticipated to be between 62,000 to 71,000 tonnes of payable copper annually during the initial years.

The concentrate would directly supply KCL’s advanced $1.2 billion (Australian $1.8 billion) Kutch Copper Smelter, recognized as the world’s largest single-location copper facility, located in Gujarat.

“This partnership with Adani’s Kutch Copper represents a crucial milestone in unlocking the full potential of the Caravel Copper Project. It combines complementary strengths — Adani’s downstream expertise and Caravel’s world-class resource — driven by a shared vision for responsible, long-term copper production,” remarked Don Hyma, Managing Director, Caravel Minerals Limited.

Caravel’s Caravel Copper Project, situated approximately 150 km northeast of Perth, ranks as one of Australia’s largest undeveloped copper resources, boasting a potential mine life exceeding 25 years and an estimated 1.3 million tonnes of payable copper. The project’s all-in sustaining cost (AISC) is projected at US $2.07 per pound, positioning it among the lowest-cost producers worldwide.

Under the terms of the agreement, KCL has been granted the first rights to engage in direct equity or project-level investments throughout the duration of the MoU. These discussions align with the project’s Australian $1.7 billion initial capital expenditure and are designed to facilitate phased development.