Overview
- The non-binding agreement frames negotiations for a potential life-of-mine offtake covering up to 100% of Caravel’s copper concentrate.
- Early production is estimated at 62,000 to 71,000 tonnes of payable copper per year and is intended for Adani’s $1.2 billion smelter in Gujarat.
- Kutch Copper receives first rights to participate in direct equity or project-level investments during the MoU term.
- Planned workstreams include co-engineering to match downstream specifications, joint procurement to accelerate delivery, and use of the India–Australia FTA to support cross-border execution and workforce skills.
- Financing talks with global banks and export credit agencies, including Denmark’s EIFO, are progressing alongside debt, equity, streaming and royalty options, for a project with AUD 1.7 billion initial capex and a forecast AISC of USD 2.07 per pound.