Company Overview
Centaurus Metals Limited (ASX: CTM/OTCQX: CTTZF) is an Australian-based critical minerals explorer and developer focused on the near-term development of the Jaguar Nickel Sulphide Project, located in the world-class Carajás Mineral Province in Northern Brazil – one of the world’s premier mining addresses.
Centaurus acquired Jaguar from global mining giant, Vale S.A, in April 2020, delivering the Company an exceptional exploration, growth and development opportunity in the international nickel sulphide sector and the cornerstone of our ambition to build a diversified Brazilian critical minerals business with best-in-class ESG credentials.
Following completion of the acquisition, Centaurus immediately commenced a major drilling program, and has since defined a global Mineral Resource Estimate (MRE) totalling 138.2Mt @ 0.87% Ni for 1.20Mt of contained nickel, confirming Jaguar as one of the largest nickel sulphide resources held by an ASX-listed company and the largest outside of the major mining companies. View Resources & Reserves
The global MRE at Jaguar has increased by 27% since the previous Mineral Resource Estimate announced in November 2022 and more than doubled since the Company’s maiden MRE was announced in June 2020, including a more than 30% increase in the higher-confidence Measured and Indicated categories to almost 1 million tonnes of contained nickel, representing more than 81% of the Global MRE.
The November 2022 MRE underpinned a positive Feasibility Study (FS) and maiden Ore Reserve for the Project, which was completed in July 2024, demonstrating strong economics and a clear pathway for the development of Jaguar as a sustainable, long-life and low-cost nickel project. Key outcomes of the Feasibility Study included:
- A maiden JORC Ore Reserve of 63Mt @ 0.73% Ni for 459,200 tonnes of contained nickel.
- Forecast production averaging 18,700tpa of nickel over an initial 18-year open pit mine life via a conventional 3.5Mtpa nickel flotation circuit.
- Low capital intensity with pre-production CAPEX of US$371 million (including pre-strip and contingency).
- First quartile C1 cash cost of US2.30/lb and AISC of US$3.57/lb.
- Post Tax operating cash flow of US$2.11 billion.
- Post Tax NPV8 of A$997 million and an IRR of 31% pa.
- 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.
View the full Feasibility Study announcement
Outside of Jaguar, Centaurus continues to pursue new business development and growth opportunities in critical minerals in Brazil as part of its Horizon II growth strategy.
This includes exploration at our Boi Novo Copper-Gold Project, located in the world-class Carajás Mineral Province, less than 20km from BHP’s Antas Norte copper flotation plant, and a new phase of development studies at the Jambreiro Iron Ore Project – one of the foundation assets within Centaurus’ portfolio.
A new study commenced recently at Jambreiro focused on the potential to produce Direct Reduction quality pellet feed for electric arc furnaces. Direct Reduction pellets offer a viable pathway for steel manufacturers to reduce their carbon emissions and we have received strong interest from potential off-take partners seeking to pursue this opportunity.
Across all our assets, we remain firmly focused on delivering class-leading Environmental, Safety and Governance performance, with a commitment to build sustainability into every aspect of our operations.
We are confident that we can achieve our growth ambitions while also delivering strong ethical and financial outcomes for our stakeholders.
