Adani’s Kutch Copper, Caravel Minerals Ink MoU to Advance Aussie Copper Project
COAL & MINING

Adani’s Kutch Copper, Caravel Minerals Ink MoU to Advance Aussie Copper Project

Caravel Minerals has signed a landmark non-binding Memorandum of Understanding (MoU) with Kutch Copper (KCL), a subsidiary of Adani Enterprises, to jointly advance the flagship Caravel Copper Project in Western Australia’s Murchison region.
The MoU outlines collaboration on investment and offtake opportunities to accelerate the project towards a Final Investment Decision (FID) by 2026. It combines Caravel’s large-scale resource with Adani’s expertise in smelting, processing, and logistics.
The partnership also establishes an exclusive framework to negotiate a life-of-mine offtake agreement covering up to 100 per cent of Caravel’s copper concentrate production, expected to reach 62,000–71,000 tonnes of payable copper annually in its initial years. The concentrate will feed directly into KCL’s USD 1.2 billion (AUD 1.8 billion) Kutch Copper Smelter — the world’s largest single-location copper facility — in Gujarat, India.
Dr Vinay Prakash, CEO, Natural Resources, Adani, said, “Copper is the backbone of the global energy transition, and this partnership strengthens India’s and Australia’s role in building a resilient, responsible copper supply chain.”
Don Hyma, Managing Director, Caravel Minerals, added, “The collaboration marks a pivotal step in realising the full potential of the Caravel Copper Project by aligning Adani’s downstream capabilities with Caravel’s world-class resource.”
Located about 150 km northeast of Perth, the Caravel Copper Project is among Australia’s largest undeveloped copper resources, with an estimated 1.3 million tonnes of payable copper and a mine life exceeding 25 years. With an all-in sustaining cost (AISC) of USD 2.07 per pound, it is positioned among the world’s lowest-cost producers.
Under the MoU, KCL gains first rights to participate in direct equity or project-level investments aligned with the project’s AUD 1.7 billion initial capex. Financing discussions are progressing with leading banks, including Export Credit Agency (ECA)-backed options from Denmark’s Export and Investment Fund (EIFO).
The collaboration also includes co-engineering to align product specifications with Kutch Copper’s downstream needs, joint procurement for faster project execution, and leveraging the India–Australia Free Trade Agreement (FTA) to promote resource development and workforce skilling.
With global copper demand projected to rise by 50 per cent by 2040, the Caravel–Kutch Copper alliance represents a major step towards building sustainable, cross-continental critical mineral supply chains and fostering green industrial growth.

Caravel Minerals has signed a landmark non-binding Memorandum of Understanding (MoU) with Kutch Copper (KCL), a subsidiary of Adani Enterprises, to jointly advance the flagship Caravel Copper Project in Western Australia’s Murchison region.The MoU outlines collaboration on investment and offtake opportunities to accelerate the project towards a Final Investment Decision (FID) by 2026. It combines Caravel’s large-scale resource with Adani’s expertise in smelting, processing, and logistics.The partnership also establishes an exclusive framework to negotiate a life-of-mine offtake agreement covering up to 100 per cent of Caravel’s copper concentrate production, expected to reach 62,000–71,000 tonnes of payable copper annually in its initial years. The concentrate will feed directly into KCL’s USD 1.2 billion (AUD 1.8 billion) Kutch Copper Smelter — the world’s largest single-location copper facility — in Gujarat, India.Dr Vinay Prakash, CEO, Natural Resources, Adani, said, “Copper is the backbone of the global energy transition, and this partnership strengthens India’s and Australia’s role in building a resilient, responsible copper supply chain.”Don Hyma, Managing Director, Caravel Minerals, added, “The collaboration marks a pivotal step in realising the full potential of the Caravel Copper Project by aligning Adani’s downstream capabilities with Caravel’s world-class resource.”Located about 150 km northeast of Perth, the Caravel Copper Project is among Australia’s largest undeveloped copper resources, with an estimated 1.3 million tonnes of payable copper and a mine life exceeding 25 years. With an all-in sustaining cost (AISC) of USD 2.07 per pound, it is positioned among the world’s lowest-cost producers.Under the MoU, KCL gains first rights to participate in direct equity or project-level investments aligned with the project’s AUD 1.7 billion initial capex. Financing discussions are progressing with leading banks, including Export Credit Agency (ECA)-backed options from Denmark’s Export and Investment Fund (EIFO).The collaboration also includes co-engineering to align product specifications with Kutch Copper’s downstream needs, joint procurement for faster project execution, and leveraging the India–Australia Free Trade Agreement (FTA) to promote resource development and workforce skilling.With global copper demand projected to rise by 50 per cent by 2040, the Caravel–Kutch Copper alliance represents a major step towards building sustainable, cross-continental critical mineral supply chains and fostering green industrial growth.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code