Adani's Kutch Copper Expands Global Reach with Caravel Deal

India’s Adani Enterprises said today its unit Kutch Copper Ltd (KCL) has signed a non-binding deal with Australia’s Caravel Minerals to speed up the development of a copper project in Western Australia.

The project’s initial capital cost is estimated at A$1.7 billion ($1.10 billion). Under the agreement, KCL will have first rights to take part in direct equity or project-level investments, expanding its role in the global copper market.

Adani’s $1.2 billion Kutch Copper facility in Gujarat is the world’s largest single-location copper plant. The unit has applied for listing as a copper-producing brand on the London Metal Exchange (LME), a key move to strengthen its international reach.

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Global copper demand is expected to rise by 50% by 2040, and the Caravel–Kutch Copper collaboration is set to support critical-minerals supply chains. The partnership aims to meet the growing need for copper used in renewable energy, electric vehicles, and industrial infrastructure.

Both sides will also use the India–Australia Free Trade Agreement to promote cross-border resource development and workforce training, boosting trade and investment opportunities in both countries.

Industry watchers see this deal as a strong step for Adani Enterprises to widen its resources portfolio and position India firmly within the global copper supply network.