Adani Enterprises’ subsidiary Kutch Copper (KCL) has signed a non-binding MoU with ASX-listed Caravel Minerals to collaborate on the Caravel Copper Project in Western Australia. The agreement could cover up to 100% of the project’s copper output, which will be supplied to KCL’s 500 KTPA smelter in Gujarat, the world’s largest single-location copper facility.
The Caravel project, one of Australia’s largest undeveloped copper resources, has a potential mine life of over 25 years. The partnership comes amid rising global demand for copper, driven by electric vehicles, renewable energy, and industrial infrastructure, positioning both companies to capitalize on long-term growth in the sector.