Ahmedabad, Nov. 6 -- Kutch Copper Ltd (KCL), a subsidiary of Adani Enterprises Ltd has signed a non-binding Memorandum of Understanding (MoU) with Caravel Minerals Ltd, to collaborate on the Caravel Copper Project in Western Australia's Murchison region.
The agreement paves the way for investment and offtake opportunities ahead of a Final Investment Decision (FID) in 2026, combining Caravel's large copper resource with Adani's expertise in smelting, processing, and logistics.
The MoU also provides an exclusive framework to negotiate a life-of-mine offtake for up to 100 per cent of Caravel's copper concentrate output, expected at 62,000-71,000 tonnes per year, which would supply Kutch Copper Limited's $1.2 billion Kutch Copper Smelter in Gujarat, the world's largest single-location facility.
"The partnership strengthens India and Australia's role in a sustainable copper supply chain," Dr Vinay Prakash, CEO, Natural Resources, Adani
said.
The project, with a 25-year mine life and 1.3 million tonnes of payable copper, is expected to be among the world's lowest-cost producers.
Published by HT Digital Content Services with permission from Millennium Post.