Centaurus Metals Attracts Up to US$320M in Project Finance Interest for Jaguar Nickel

Strong International Interest in Jaguar Financing

Centaurus Metals (ASX:CTM) has secured robust non-binding project finance proposals totaling up to US$320 million for its Jaguar Nickel Sulphide Project in northern Brazil. The company received offers from ten prominent international resource financiers, including a previously announced Letter of Intent from Brazil’s National Development Bank (BNDES). Multiple proposals exceed US$250 million, underscoring confidence in Jaguar’s potential.

Next Steps in Financing and Project Development

Centaurus is now shortlisting preferred financiers to progress to site visits, due diligence, and facility documentation. The appointment of a Tier-1 financier or syndicate to arrange and underwrite the project finance is expected by Q3 2026. This timeline aligns with the company’s Final Investment Decision, marking a pivotal milestone for Jaguar’s construction phase.

Basic engineering work is nearing completion, and early-stage site preparations have commenced, signalling tangible progress beyond financing discussions. The company’s Managing Director, Darren Gordon, highlighted the strong interest as an endorsement of Jaguar’s quality and cashflow prospects.

Backing from Strategic Partnerships and Leadership

The financing momentum follows a binding five-year offtake agreement with global commodity giant Glencore AG, securing a substantial portion of Jaguar’s nickel concentrate output. This agreement, valued at over US$450 million, enhances the project’s commercial viability and underpins revenue forecasts.

Additionally, the recent appointment of Thiago Costa as Jaguar Project Director adds experienced leadership to steer development through the critical construction phase. These developments collectively position Centaurus to advance Jaguar rapidly towards production.

Notably, the strong interest from BNDES builds on the earlier R$1 billion LOI from BNDES, reflecting Brazil’s strategic commitment to critical minerals and lending further credibility to the project’s financing strategy.

Implications for Centaurus and the Nickel Market

Jaguar’s development is set against a backdrop of rising global nickel demand, particularly for electric vehicle batteries, positioning Centaurus to capitalise on favourable market dynamics. Securing robust project finance is crucial to transitioning from exploration to production, with the scale of interest indicating strong market confidence despite the inherent risks of large-scale mining projects.

While the offers remain non-binding and subject to due diligence and final documentation, the breadth and size of proposals suggest Centaurus is well placed to secure the capital needed to advance Jaguar. The coming months will be critical as the company finalises financier selection and moves towards its Final Investment Decision.