Centaurus Metals Targets Premium Nickel Market with Jaguar Project Breakthrough

Key Highlights

• Jaguar Project delivers a 34% nickel concentrate, positioning it as the highest-grade in global markets.
• Value Engineering Process cuts life-of-mine concentrate volumes by 63.9%, saving $275M in logistics costs.
• Strategic partnerships and offtake discussions underway for premium nickel concentrate.

Centaurus Metals Limited (ASX: CTM) has announced a significant breakthrough at its flagship Jaguar Nickel Project in Brazil’s Carajás Mineral Province. A recently completed pilot plant trial produced an unprecedented 34% nickel concentrate, the highest-grade product of its kind globally, reshaping the project's economic and market potential.

Revolutionizing the Jaguar Project

The Jaguar Value Engineering Process (JVEP) focuses on optimizing operations as a dedicated concentrate project, bypassing the constraints of integrated downstream processing. Key results include a reduction in life-of-mine (LOM) concentrate volumes from 2.7 million tonnes to approximately 983,000 tonnes, representing a 63.9% decrease. This reduction is expected to save $275 million in logistics costs over the project’s lifespan.

Managing Director Darren Gordon commented, “Producing a +30% nickel concentrate elevates Jaguar to an elite position in global markets. This high-grade product, akin to Mixed Sulphide Precipitate, offers enhanced payability and unparalleled appeal to smelters and refiners.”

Pilot Plant Highlights

The pilot plant successfully validated the redesigned process flowsheet, producing 30 kg of concentrate with 34.1% nickel and significantly reduced impurities, including zinc and fluorine. Recovery rates from ore to concentrate stood at approximately 70%. The product specification exceeds industry standards, positioning Centaurus Metals (ASX: CTM) for premium payability and reduced processing costs for potential off-takers.

Key metrics include:

• Nickel grade: 34.1%
• Zinc content: Reduced by 72.3%
• Fluorine content: Reduced by 78.9%

Strategic Opportunities and Market Impact

The Jaguar concentrate’s premium quality aligns with growing demand for high-grade nickel in green energy sectors, including battery manufacturing and renewable energy infrastructure. Centaurus Metals (ASX: CTM) is leveraging these attributes to secure strategic partnerships and finalize offtake agreements.

Additionally, the revised project layout minimizes environmental impact, with a smaller footprint and reduced earthwork requirements. Collaborations with CPC Engineering have optimized the use of the natural topography, further lowering costs.

Enhanced Economics and Future Outlook

The Jaguar Project’s initial feasibility study, completed in mid-2024, highlighted robust base case economics, including first-quartile all-in-sustaining costs (AISC) of $3.57/lb. The JVEP builds on this foundation, focusing on front-loaded nickel production to shorten the payback period and maximize early revenue.

Centaurus Metals (ASX: CTM) aims to complete the JVEP by the end of Q1 2025, setting the stage for a transformative phase in nickel production. Centaurus Metals’ (ASX: CTM) Jaguar Project is redefining the nickel industry, offering a premium product with reduced environmental and logistical footprints.

The company’s focus on innovation and strategic alignment ensures it is well-positioned to capitalize on evolving market dynamics. For stakeholders, Jaguar represents a compelling investment in the future of high-grade nickel production.