[SMM Nickel Market Flash] Centaurus Targets Q3 FID on Brazil's Jaguar Sulphide Project, 22,600 t/y Ni from 2029

Published: Jul 28, 2026 09:01

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ASX-listed Centaurus Metals said its 100%-owned Jaguar nickel sulphide project in Para, northern Brazil, is construction-ready with all key permits granted, and is targeting a final investment decision by the end of Q3 2026. Funding is the last gate: the company has non-binding debt proposals of up to US$320 million, including a US$190 million letter of intent from Brazil's BNDES, with credit-approved term sheets expected in late September. Glencore holds a binding five-year offtake from 2029 for 20,000 dmt a year of about 32% nickel concentrate, roughly 30% of output, destined for its Sudbury smelter. Jaguar targets 22,600 tonnes a year of contained nickel over its first seven years at all-in sustaining costs near US$9,764/t, on US$380 million of capex.

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