b'Figure 10: Jambreiro testwork program being completed at the Gorceix Foundation in Ouro PretoDuring the reporting period, the Companys Jambreiro Project wasPROJECT APPROVALSalso awarded priority status by the Minas Gerais State GovernmentThe new LP for the Jambreiro Project is expected in H1 2025. for its potential positive social and economic impacts. As the project had already been licensed in 2013 and significant The Economic Development Committee in Minas Gerais, consisting ofenvironmental improvements were implemented in the project design, members from the main State departments, approved the inclusion ofincluding the removal of the tailings dam, the Company expects no the Jambreiro DRPF Project in the list of projects to be prioritised inissues with the new approvals process.the environmental permitting process. The decision was based on a structured assessment, which considers seven different criteria to grade investment projects, including, but not limited to, capital investment, job creation, social and human development index of the project region, forecast project revenue and that the Jambreiro Project is able to produce a high-grade DRPF product, warranting the priority status award. The permitting process for Jambreiro will be entirely completed at a state level.The priority status means the project will be assessed diligently by environmental regulators with a view to permitting it in the shortest possible time. The State Environmental Agency (Supram) will also regularly report the progress of the permitting process to the States Investment DepartmentInvest Minaswhose objective is to attract investments to the State of Minas Gerais. As a result of this decision, the Jambreiro DRPF Project is understood to be a project that is critical to the decarbonisation of the steel industry and will now receive the same fast-tracked permitting treatment as a number of lithium projects located in the Minas Gerais Lithium Valley.CENTAURUS METALS LIMITED ANNUAL REPORT 19'