ENVIRONMENT 
Commitment to  
environmental stewardship 
and protection of  
surrounding ecosystems. 
COMMUNITY 
Supporting collaboration,  
local development and  
shared value creation.   
PEOPLE 
Prioritising the health,  
safety and wellbeing of our 
workforce. 
GOVERNANCE 
Upholding the highest  
standards of integrity, 
transparency and  
ethical conduct. 
A positive value engineering 
process and independent ESG 
assessment completed in May 
2025 further strengthened 
the FS delivered in July 2024 
re-confirming robust project 
economics, supporting a long-
life production profile with first 
quartile operating costs.
The project benefits from high-grade ore, 
efficient logistics, and the planned use 
of 100% renewable energy, reinforcing 
Centaurus’ commitment to sustainable 
and responsible mining. These outcomes 
showcase Jaguar’s strong ESG credentials 
and its alignment with growing global 
demand for low-carbon Class-1 nickel supply.
The JVEP reconfirmed the potential for 
Jaguar to become a sustainable, long-term, 
low-cost producer of low-emission nickel for 
global markets, capable of generating strong 
financial returns while delivering meaningful 
social and economic benefits to local 
communities. 
Key financial highlights from JVEP included:
	> Low capital intensity, with pre-production 
CAPEX of US$380 million (including pre-
strip and contingency).
	>  First quartile C1 cash cost of US3.34/lb and 
AISC of US$4.43/lb (payable nickel basis).
	> Post Tax operating cash flow of US$2.00 
billion (A$2.53 billion). 
	> Post Tax NPV8 of A$1.15 billion and an 
Internal Rate of Return (IRR) of 34%.
	> Capital payback of 1.8 years from first nickel 
concentrate production.
Sustainability considerations are also 
embedded across our exploration activities, 
operations and corporate practices, as well 
as in our engagement with stakeholders. We 
structure our approach around four strategic 
pillars aligned with our reporting obligations 
under Towards Sustainable Mining (TSM)  
and the Principles for Responsible 
 Investment (PRI):
MATERIAL TOPICS
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