Caravel Minerals’ 100% owned Caravel Copper Project is a proposed mining development project located near Wongan Hills in Western Australia. It centres on the Caravel copper deposit – one of the most significant Australian porphyry (type of rock) copper discoveries of the last decade.

The Caravel Copper Project is an open pit mine development project which will produce a copper-in-concentrate – a critical component for the electrification of economies around the world. 

Planned to operate for more than 25 years, the Caravel Copper Project has the potential to:

• Produce up to 65,000 tonnes of copper concentrate per year onsite
• Create more than 500 jobs during construction
• Create more than 200 full-time jobs once operational
• Support the local and regional economy
• Contribute positively to environments impacted by high salinity
• Continue to invest in local communities 

The Importance of Copper to a Low Carbon Future

Copper’s conductive properties make it an important ingredient in technologies which facilitate low-carbon solutions in an increasingly technologically dependant era. 

Large amounts of copper are used in wind turbines, solar panels, and hydropower infrastructure, facilitating the generation and transmission of clean energy. Electric vehicles (EVs) also rely heavily on copper for their batteries and charging infrastructure, while energy storage systems and smart grids depend on copper to store and efficiently distribute renewable energy.

Additionally, copper contributes to energy efficiency in buildings through heating and cooling systems, as well as in the electrification of industrial machinery, further reducing our reliance on fossil fuels. 

A copper supply shortage is predicted from 2027, brining significant economic value (or economic significance) to large copper deposits in Tier-1 mining jurisdictions like WA, including the Caravel Copper Project.

Mining and processing

The Company is seeking State and Commonwealth approvals to develop an open pit mine and processing infrastructure to operate for +25 years. The Project’s copper concentrate product will be loaded onto trucks and transported to existing Western Australian ports that are well-connected to the site by sealed public roads and highways. Project support infrastructure including a borefield and water pipeline, power infrastructure, site offices and workforce accommodation are also likely to be established at, or near to the project site.

In the first five years of production, Caravel is targeting approximately 71,000 tonnes per annum (tpa) of copper-in-concentrate. Steady-state operations are targeting 65,000tpa of copper-in-concentrate and about 900tpa of molybdenum-in-concentrate.

Heritage and Native Title

The Caravel Copper Project is situated on land primarily located within the within the Yued People’s Indigenous Land Use Agreement (ILUA) area.

Local Government Areas (LGAs)

The Caravel Copper Project sits within the Shire of Wongan Ballidu and a small area to the south of the project is located within the Shire of Victoria Plains (check this statement)

Project Timeline

Key Project Milestones

1. Definitive Feasibility Study (DFS) completion:
   The Caravel Copper Project is progressing steadily. Caravel Minerals expects to complete the project’s Definitive Feasibility Study (DFS) early to mid-2026.
2. Environmental Review Document public review period:
   At the same time, the Western Australian environmental approvals process is progressing, and we expect the project’s Environmental Review Document to be made public in early 2026.
3. Final Investment Decision:
   After the DFS is complete and all State and Federal Government approvals are received, Caravel Minerals will make a Final Investment Decision (FID).
4. 18-24-month construction period:
   Following a positive Final Investment Decision, construction will commence, targeting an 18-24-month construction period.
5. +25 years of operation: