Centaurus Metals Signs Nickel Offtake Agreement with Glencore for Jaguar Project in Brazil
Centaurus Metals has signed a binding offtake agreement with Glencore for 20,000 dry metric tonnes per annum of nickel concentrate from its Jaguar project in Brazil. The contract represents about one-third of Jaguar's annual production capacity of 65,000 tonnes and is a milestone for commercial development. The initial term is five years, starting with production in 2029, with an estimated value exceeding US$450 million. The agreement includes several development milestones, including a final investment decision by September 30, 2026.
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Centaurus Metals has executed a binding offtake agreement with Glencore for 20,000 dry metric tonnes per annum of nickel concentrate from its Jaguar project in Brazil. This agreement covers approximately one-third of the Jaguar project's forecast annual production capacity of 65,000 tonnes and will run for an initial five-year term starting in 2029.
The estimated value of the contract exceeds US$450 million. Centaurus must achieve specific milestones, including a final investment decision by September 30, 2026, and 50% completion of the tailings dam by December 31, 2027, prior to first production. Glencore may terminate the agreement if milestones are not met.
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