The logo of the Adani Group is seen on the facade of its Corporate House on the outskirts of Ahmedabad, India, November 21, 2024.
The initial capital expenditure for the project is estimated at A$1.7 billion ($1.10 billion). Under the terms of the agreement, KCL will have the first right to participate in direct equity or project-level investments during the partnership period. The cooperation is designed to accelerate project development, explore investment opportunities, and align with future copper demand growth.
Adani Enterprises highlighted that its $1.2 billion Kutch Copper facility in the western Indian state of Gujarat represents the world’s largest single-location copper manufacturing plant. The unit has also applied for registration as a listed copper-producing brand on the London Metal Exchange, which would enhance its presence in the international metals market.
Global demand for copper is forecast to increase by about 50% by 2040, driven by expanding renewable energy, electric vehicle, and infrastructure industries. The company said that the collaboration between Caravel Minerals and Kutch Copper is expected to play an important role in ensuring stable supply chains for critical minerals essential to energy transition and technological growth.
The partnership also aims to take advantage of the Free Trade Agreement (FTA) between India and Australia to promote cross-border cooperation in resource development, technical innovation, and workforce training. Both sides intend to use the FTA framework to facilitate investment flows and enhance industrial collaboration.
Kutch Copper’s parent company, Adani Enterprises, is one of India’s major conglomerates with operations spanning energy, infrastructure, and natural resources. The group has been actively investing in the metals and mining sector to support the global shift toward cleaner technologies. By working with Caravel Minerals, an Australian exploration and development company, Adani seeks to secure access to high-quality copper resources and strengthen its international footprint in mineral production.
The collaboration underscores growing efforts among resource companies to diversify production bases and secure long-term mineral supplies amid rising global consumption. Copper, a key industrial metal, is critical to power transmission, manufacturing, and renewable energy systems, and the partnership is positioned to contribute to sustainable development goals across both countries.
Overall, the Caravel-Kutch Copper agreement represents a step forward in strategic cooperation between India and Australia’s mining sectors, combining technological expertise, investment potential, and resource capacity to support the future of global copper supply and the broader energy transition.
