Centaurus Metals (ASX: CTM) is working hard to secure a $380 million (C$523 million) funding package to help start construction on its Jaguar nickel project in Brazil next year ahead of a planned production start in 2028.
“We plan to have the funding squared away in the rest of this year so that we can start building the project next year and then get into production in 2028,” CEO Bruno Scarpelli told the Miner early this month at an industry event in Boca Raton, Fla.
The project has all permits. It contains a resource of 138.2 million tonnes with 0.87% nickel for an estimated 1.20 million tonnes of contained nickel. It also has low operating costs at $4.43 per payable pound. Centaurus is aiming to raise US$200 million of equity from a strategic partner at the project level and US$180 million of debt, with financing in place by year‑end to meet a final investment decision in early 2026, Scarpelli said.
Strong cash flows under the value‑engineered feasibility study support debt on standard terms, Scarpelli said. Centaurus has tapped Brazil’s BNDES climate platform to widen its funding sources. At an 8% discount rate and a nickel price of $8.98 per lb., the project has a post‑tax net present value of $735 million and a 34% internal rate of return.
Exploration at the adjacent Boi Novo copper project continues to yield thick, high‑grade intercepts as Centaurus builds a pipeline of critical‑minerals assets in the South American country.
Watch the full chat below with The Northern Miner’s Western Editor, Henry Lazenby.
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