Name of the Project
Jaguar nickel sulphide project.

Location
Carajás, Brazil.

Project Owner/s
ASX-listed exploration company Centaurus Metals.

Project Description
Jaguar is currently one of the biggest undeveloped nickel sulphide projects worldwide and a highly strategic potential source of unencumbered nickel concentrate product, particularly for the electric vehicle battery supply chain. 

The outcomes of a feasibility study have demonstrated the potential for the project to become a sustainable, long-term and low-cost producer of low-emission nickel for global markets. 

The feasibility study considers only openpit nickel sulphide ore over an initial 18-year mine life, delivering nickel sulphide feed to a 3.5-million-tonne-a-year conventional nickel flotation plant to produce an estimated 18 700 t/y of recovered nickel metal. 

Total life-of-mine recovered nickel is estimated at 335 300 t.

Potential Job Creation
The development of Jaguar will provide job opportunities in and around the local municipalities. At peak construction, the workforce will comprise more than 1 200 people – 490 full-time operational personnel and about 630 mining contractor employees.

Net Present Value/Internal Rate of Return
The project delivers a pretax net present value, at an 8% discount rate, of $795-million and internal rate of return of 34%, with a payback of 2.5 years.

Capital Expenditure
Preproduction capital expenditure, including growth and contingency, is estimated at $371-million.

Planned Start/End Date
A final investment decision is targeted for the second half of 2025, based on the current environmental approvals and development timeline, with first production targeted for the second half of 2027.

Latest Developments
Centaurus Metals has announced firm commitments for A$20-million from Australian and international institutional and sophisticated investors in a placement to advance the project.

The shares will be issued at A$0.36 each, with one free option for every two shares exercisable at A$0.50 and expiring on November 30, 2027. The company will also offer eligible shareholders the chance to participate in a share purchase plan to raise up to an additional A$3-million on the same terms.

Proceeds will be used to progress strategic partnering, debt funding negotiations and other predevelopment work ahead of a final investment decision in the first half of 2026. Funds will also support exploration at Centaurus’ Boi Novo copper project.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Centaurus Metals, tel +61 8 6424 8420 or email office@centaurus.com.au.