Adani’s Kutch Copper Partners with Australia’s Caravel Minerals for Major Copper Project.

Caravel Minerals Ltd has entered into a non-binding Memorandum of Understanding (MoU) with Kutch Copper Ltd (KCL), a subsidiary of Adani Enterprises, to collaborate on the flagship Caravel Copper Project in Western Australia’s Murchison region.

The MoU outlines plans to explore investment and offtake opportunities aimed at accelerating the project toward a Final Investment Decision (FID) in 2026, the company said in a statement on Thursday.

The partnership also establishes an exclusive framework for negotiating a life-of-mine offtake agreement covering up to 100% of Caravel’s copper concentrate output, which is expected to range between 62,000 and 71,000 tonnes of payable copper per year in the initial phase.

The copper concentrate from the project is slated to feed directly into KCL’s USD 1.2 billion (AUD 1.8 billion) Kutch Copper Smelter in Gujarat, touted as the world’s largest single-location copper facility.