Caravel Minerals Limited (ASX:CVV) is an Australia-based exploration and minerals development company focused on copper projects in Western Australia. The company holds 100% interest in the flagship Caravel Copper Project, located 150km northeast of Perth in the South West Yilgarn Terrane, which features a mineral resource estimate of 1.276 billion tonnes at 0.24% copper, 47ppm molybdenum, 22ppb gold and 1.1ppm silver, supporting a planned 25+ year operation producing approximately 65,000 tonnes of copper metal and 900 tonnes of molybdenum metal per annum via conventional open-pit mining and a 22 Mtpa copper concentrator processing high-quality concentrate with by-product credits. It also explores for gold, silver and molybdenum deposits across its tenements in the region. Founded in 2006 and headquartered in Subiaco, Western Australia, the company operates exclusively in Australia with access to established road, power and port infrastructure for exports via Bunbury or Geraldton. In November 2025, Caravel Minerals signed a non-binding memorandum of understanding with Kutch Copper Ltd, a subsidiary of Adani Enterprises Ltd, to explore investment, offtake and development collaboration aimed at accelerating the Caravel Copper Project toward a final investment decision in 2026, leveraging Adani's smelting, processing and logistics expertise.