Centaurus Metals

Jaguar Nickel Sulphide Project – Feasibility Study

Positive Feasibility Study Demonstrates Strong Economics And Clear Pathway To Develop A Sustainable, Long-Life And Low-Cost Nickel Sulphide Project In Northern Brazil

Centaurus Metals (ASX Code: CTM) is pleased to announce the completion of a positive Feasibility Study (FS) for the development of its 100%-owned Jaguar Nickel Sulphide Project in the Carajás Mineral Province of northern Brazil, which highlights strong economics from an initial concentrate-only project delivering a long-life production profile at first quartile operating costs.


Forecast production averaging 18,700tpa of nickel over an initial 18-year open pit mine life for Post Tax operating cash flow of US$2.11 billion

Maiden Jaguar JORC Ore Reserve of 63Mt @ 0.73% Ni for 459,200 tonnes of contained nickel

First quartile life-of-mine C1 cash cost and AISC of US$2.30/lb and US$3.57/lb Ni respectively

Low capital intensity with pre-production capex of US$371 million (incl. pre-strip and contingency)

Post Tax NPV8 of A$997 million and IRR of 31% pa

The Jaguar Project represents a cornerstone asset for Centaurus that will underpin the Company’s ambition to build a diversified Brazilian critical minerals business with best-in-class ESG credentials.

The outcomes of the Jaguar Feasibility Study demonstrate the potential for Jaguar to become a sustainable, long-term and low-cost producer of low-emission nickel for global markets, generating strong financial returns while also delivering significant social and economic benefits for the local communities where the Project is located. Jaguar is currently one of the largest undeveloped nickel sulphide projects globally and a highly strategic potential source of unencumbered nickel concentrate product, particularly for the EV battery supply chain.

The Feasibility Study only considers open pit nickel sulphide ore over an initial 18-year mine life, delivering nickel sulphide feed to a 3.5Mtpa conventional nickel flotation plant to produce approximately 18,700 tonnes of recovered nickel metal per year at a low life-of-mine (LOM) C1 operating cost of US$2.30/lb and AISC of US$3.57/lb, on a contained nickel basis.

KEY FEASIBILITY STUDY OUTCOMES & PROJECT HIGHLIGHTS

Production Base, Nickel Price & FID Timing

  • Production of a high-quality nickel concentrate via a conventional 3.5Mtpa nickel flotation circuit.
  • Forecast nickel production averaging 18,700 tonnes per annum (tpa) of contained nickel metal over the current initial 18-year open pit evaluation period.
  • Life-of-Mine (LOM) nickel price assumption of US$19,800/tonne (US$8.98/lb) and 76% nickel payability.
  • FID targeted for Q2 2025 based on the current environmental approvals and development timeline.

Physical Parameters

  • JORC Mineral Resource Estimate (MRE) of 109.2Mt @ 0.87% Ni for 948,900 tonnes of contained nickel.
  • Maiden JORC Proved and Probable open pit Ore Reserves of 63.0Mt @ 0.73% Ni for 459,200t of contained nickel.
  • First production targeted for H2 2027 with LOM recovered nickel of 335,300 tonnes.
  • Ideally positioned to meet forecast growth in demand for Class-1 nickel from the EV battery market.

Click here for the full ASX Release

This article includes content from Centaurus Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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