b'CASE STUDY When in operation, the E1 (Scopetonnes of CO2/tonne of nickel equivalent.CARBON EMISSIONS FORECAST 1+2+freight+downstream) GHG emissions toThe forecast low emission levels are a function produce a nickel concentrate on site at theof the relatively high-grade nickel that will Centaurus retained the services of specialistJNP and further process the concentrate inbe coming from open pit mining sources and, metals and mining ESG research company,North Americaare expected to be extremelyimportantly, the fact that 80% of grid power in Skarn Associates (Skarn), to refine ourlow at 7.27 tonnes of CO2/tonne of nickelBrazil stems from renewable sources.There forecast emission levels that will be generatedequivalent, which is lower than 94% of existingis an expectation that, once in operation, from the JNP.The 2022 Sustainability Reportglobal nickel production and demonstratesthe JNPs power requirements will be met presented a Case Study based on operatingthe investment quality of the JNP from anfrom 100% renewable sources.Centaurus is parameters of a nickel sulphate product. emissions perspective as well a financialconsidering this aspirational target as part of As the favourable economics of a nickelperspective.The E1 emission levels will be 85%future emission modelling assessments.concentrate only product emerged, Skarnlower than the nickel industry average of 48.6 revised the emissions model to align with the JNP FS due to be published in 2024. 2023 Industry Average EGHG Emissions by Nickel Product1e/t Ni Eq.) Source: Skorn Asociates LimitedThe results of the updated modelling clearly80demonstrate that the JNP remains to class- 70leading in terms of its carbon footprint,60reflecting its unique attributes as a high-grade502 1 40nickel sulphide project powered largely by(tCO Erenewable energy from the local grid and30producing a finished nickel concentrate20product on site which can be sold or further10refined downstream to product nickel0sulphate for lithium-ion battery production. Class 1Class 1Class 1Class 2Class 2Jaguar (HPAL) (sulphide) (other) (FeNi) (NPI) Concentrator -Only 2024600 0 25% 50% 75% 100%500400E1: Breakdown (t/NiEq t)30020010000 650 1,300 1,950 2,600Nickel Recoverable Production (kt)Jaguar Class 1 (sulphide) Class 1 (HPAL) Class 2 (FeNi) Class 2 (NPI) Class 1 (Other) 21'