Caravel Minerals has executed a non-binding, non-exclusive Memorandum of Understanding (MoU) with Thiess Pty Ltd for mining services to the Caravel copper project, in Western Australia.
The collaboration is directed at supporting the definitive feasibility study (DFS) for Caravel and definition of a full-service mining contract, it says.
Thiess will provide all engineering and cost estimates for an initial seven-year full-service contract covering all mining equipment, asset maintenance, technology & autonomy consideration, asset management and drill and blast.
The agreed work spans mine planning and scheduling, mining methodology and asset selection, autonomous drilling and haulage options, operational readiness and workforce development, and early works and mobilisation planning. An indicative pathway runs from DFS, to an early contractor involvement (ECI) process culminating in a mining services agreement at Final Investment Decision of the project
Caravel clarified: “No contract has been awarded and neither party is obliged to proceed beyond the MoU, which has a term of two years. The mining services provider, loading and haulage fleet, drill fleet and autonomy provider each remain subject to Caravel selection processes.”
Caravel Managing Director, Don Hyma, said: “The front end of a project like this is where much of the risk sits. Ramping up a new open pit, building a workforce and bringing an ultra-class fleet to full productivity takes experience that few in the industry have. Thiess are among the most experienced operators in that space, and their experience with technology and autonomy is market leading. This MoU lets us cost and test that model properly alongside the owner operated case, so that the decision is made on value and evidence.”
Thiess Group Executive Chair and CEO, Michael Wright, said: “Caravel is developing a long-life copper project in an established mining jurisdiction at a time when critical minerals are becoming increasingly important to the global economy. We look forward to working with the Caravel team through the ECI phase and demonstrating how a full-service mining model, including the early integration of technology and autonomy, can support the development and operation of the project.”
The Caravel copper project is a plus-25-year copper development project located approximately 150 km north of Perth, Western Australia, and is, according to Caravel, Australia’s largest undeveloped copper project, employing conventional open-pit, low-cost mining and a proven copper concentrator design. It is expected to produce high-quality copper concentrate targeting approximately 65,000 t of contained copper, 15,000 oz of gold and 660,000 oz of silver annually, alongside approximately 1,100 t of molybdenum in a separate concentrate.
Caravel has previously stated its intention to use autonomous platform rigs for blasthole drilling, while load and haul operations were based on manned electric shovels and backhoes loading autonomous diesel-electric trucks using trolley assist for grid powered electric drive on ramps and long hauls for both ore and waste.
