Jaguar Nickel Sulphide Project

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.

Since completing the project acquisition, Centaurus has defined a globally significant Mineral Resource Estimate (MRE) totalling 80.6Mt grading 0.91% Ni for 730,700t of contained nickel.

Importantly, more than 500,000 tonnes of the contained nickel is located within 200m of surface, representing +70% of the total contained metal.

Centaurus completed a positive independent Base Case Scoping Study for the Jaguar Project development in March 2021 (based on conventional mining and processing to produce nickel concentrate), and completed a Value-Add Scoping Study in May 2021, which contemplated processing the nickel concentrate using a hydrometallurgical process (POx) to produce battery-grade nickel sulphate for the growing electrification supply chain.

Based on a 2.7Mtpa nickel sulphate plant, the Value-Add Scoping Study delivered production of +20,000tpa of recovered nickel-in-sulphate and +9,600tpa of a mixed sulphide precipitate (MSP) over an initial 13-year mine life.

At a life-of-mine nickel price of US$7.50/lb, the Value Add development scenario delivers a post-tax NPV for the Jaguar Project of ~A$1.1 billion.

Key highlights of the Value-Add Scoping Study included:

Click here to read the full Value Add Scoping Study.

Based on the strength of the Scoping Study results, Centaurus has commenced a Definitive Feasibility Study (DFS) for the production of +20,000 tonnes per annum of nickel sulphate at the Jaguar Project over an initial mine life of ~13 years. The DFS will also incorporate a study of the production of nickel concentrate, as this will be the product feed to the hydrometallurgical (nickel sulphate) circuit.

The new, larger Mineral Resource Estimate of 80.6Mt @ 0.91% Ni for 730,700 tonnes of contained nickel reported in December 2021 will underpin mine optimisation and production profile studies set to start in 2022 that will determine the optimal mine capacity for the development of the Project. Any expansion of the processing plant capacity and/or production profile is likely to have a material positive impact on the project economics and delivery of nickel-in-sulphate, which currently stands at 20,000ktpa for 13 years.

In parallel with the completion of ongoing development studies, Centaurus is also continuing a major drilling effort at Jaguar aimed at extending the existing Resource base and making new discoveries.