Adani Enterprises’ copper arm, Kutch Copper, has signed an MoU with Caravel Minerals Ltd of Australia to secure copper concentrate for its $1.2 billion smelter in Gujarat.
Under the agreement, Kutch Copper will source up to 71,000 tonnes of copper a year from the Caravel Copper Project near Perth in Western Australia’s Murchison region. The partnership will also enable both countries to explore investment opportunities and work towards a final investment decision (FID) by 2026.
“Copper is the backbone of the global energy transition, and our partnership with Caravel Minerals strengthens India’s and Australia’s role in building a resilient and responsible supply chain for this vital metal,” said Dr. Vinay Prakash, CEO, Natural Resources, Adani Group.
The Caravel Copper Project is estimated to contain 1.3 million tonnes of payable copper with a mine life of more than 25 years. With an all-in sustaining cost of $2.07 per pound, it is expected to be among the world’s lowest-cost copper producers.
According to Caravel’s Managing Director, Don Hyma, the partnership represents a key milestone in unlocking the project’s full potential. He noted that the collaboration combines Adani’s downstream and infrastructure expertise with Caravel’s large-scale copper resource, built on a shared commitment to sustainable and long-term production.
As the world shifts toward electric vehicles and clean energy, the need for copper is expected to grow by almost 50% by 2040. The partnership between Caravel and Kutch Copper aims to help India and Australia play a major role in creating a reliable and eco-friendly supply of this important metal for the future.
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