Company Overview

Centaurus Metals Limited (ASX: CTM/OTCQX: CTTZF) is an Australian-based critical minerals explorer and developer focused on the near-term development of the Jaguar Nickel Sulphide Project, located in the world-class Carajás Mineral Province in Northern Brazil – one of the world’s premier mining addresses.

The Jaguar Nickel Sulphide Project is located in the western portion of the world-class Carajás Mineral Province of Brazil, and was acquired from global mining giant, Vale S.A., in April 2020. The Jaguar Project includes multiple nickel sulphide deposits and exploration targets within a 30km² land package.

Jaguar represents an exceptional exploration, growth and development opportunity in the international nickel sulphide sector and forms the cornerstone of Centaurus’ ambition to build a diversified Brazilian critical minerals business with best-in-class ESG credentials.

Since completing the acquisition, Centaurus has undertaken intensive drilling campaigns to define a global Mineral Resource Estimate (MRE) totalling 138.2Mt @ 0.87% Ni for 1.20Mt of contained nickel. This establishes Jaguar as one of the largest nickel sulphide resources held by an ASX-listed company and the largest outside of the major mining companies. Importantly, almost 1 million tonnes of contained nickel is held in the higher confidence Measured and Indicated Resource categories, representing more than 81% of the Global MRE.

View Resources & Reserves

A positive Feasibility Study (FS) was completed for the Jaguar Project in July 2024 (based on the November 2022 MRE), demonstrating strong economics and a clear pathway for the development of Jaguar as a sustainable, long-life and low-cost nickel project. 

View the Feasibility Study announcement

A positive Feasibility Study (FS) was completed for the Jaguar Project in July 2024 (based on the November 2022 MRE), demonstrating strong economics and a clear pathway for the development of Jaguar as a sustainable, long-life and low-cost nickel project. View [insert link to FS release]

Based on the expanded MRE announced in August 2024, Centaurus completed Value Engineering Studies aimed at optimising the project’s metallurgical, mining and engineering parameters.

Results from the Jaguar Value Engineering Process (JVEP) were announced in May 2025.

Key outcomes of the JVEP included:

• Updated JORC Proved and Probable open pit Ore Reserve estimate of 52.0Mt @ 0.78% Ni for 406,100t of contained nickel.

• Average annual nickel production of 22,600tpa over first seven years of full production, delivering free operating cash-flows over this period of US$169 million pa (A$264 million pa).
• Forecast production averaging 18,700tpa of nickel over an initial 15-year open pit mine life via a conventional 3.5Mtpa nickel flotation circuit.
• Low capital intensity, with pre-production CAPEX of US$380 million (including pre-strip and contingency).
• First quartile C1 cash cost of US2.67/lb and AISC of US$3.55/lb (contained nickel basis).
• Post Tax operating cash flow of US$2.00 billion (A$2.53 billion).
• Post Tax Net Present Value (NPV₈) of A$1.15 billion and an Internal Rate of Return (IRR) of 34% pa.
• Life-of-Mine (LOM) nickel price assumption of US$19,800/tonne (US$8.98/lb) and 80% nickel payability.
• Capital payback of 1.8 years from first nickel concentrate production.
• Final Investment Decision (FID) targeted for Q1 2026 once a suitable funding package has been secured.

View the Value Engineering Process announcement

Outside of Jaguar, Centaurus continues to pursue new business development and growth opportunities in critical minerals in Brazil as part of its Horizon II growth strategy.

This includes exploration at our Boi Novo Copper-Gold Project, located in the world-class Carajás Mineral Province, less than 20km from BHP’s Antas Norte copper flotation plant, and a new phase of development studies at the Jambreiro Iron Ore Project – one of the foundation assets within Centaurus’ portfolio.

A new study commenced recently at Jambreiro focused on the potential to produce Direct Reduction quality pellet feed for electric arc furnaces. Direct Reduction pellets offer a viable pathway for steel manufacturers to reduce their carbon emissions and we have received strong interest from potential off-take partners seeking to pursue this opportunity.

Across all our assets, we remain firmly focused on delivering class-leading Environmental, Safety and Governance performance, with a commitment to build sustainability into every aspect of our operations.

We are confident that we can achieve our growth ambitions while also delivering strong ethical and financial outcomes for our stakeholders.