Glencore, CNGR back $380M Brazil nickel mine with $40M
Centaurus Metals has secured buyers for Jaguar's first five years of output as strategic funding advances the project toward approval.
Glencore and CNGR have invested $40 million in Centaurus Metals for their $380 million Jaguar nickel project in Brazil, bringing the mine closer to a final investment decision. The two companies have committed $20 million each and will purchase 20,000 dry metric tonnes of nickel concentrate annually for the first five years of operations.
Centaurus managing director Darren Gordon stated that the contracts significantly advance the commercial and funding foundations for the project. The agreements strengthen Brazil's prospects in supplying battery metals to global markets and highlight the willingness of major commodity traders and Chinese manufacturers to secure long-term nickel supplies.
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