Centaurus gets $190m in funding for Jaguar project

Core Insights - Centaurus Metals has received a letter of intent (LoI) from Banco Nacional de Desenvolvimento Econômico e Social (BNDES) for potential debt funding of R$1 billion (approximately $190 million) for its Jaguar Nickel Project [1] - The Jaguar project is located in the Carajás Mineral Province in Pará, Brazil, and involves several nickel sulphide deposits across a 30km² area [2] - The funding will be provided through BNDES' Financiamento a Empreendimentos (FINEM) long-term financing facility, subject to credit approval processes [2][3] Group 1 - The LoI indicates BNDES' strategic focus on enhancing critical minerals production in Brazil [1] - Centaurus applied for funding in September 2025, and the project will undergo detailed evaluations including technical, financial, legal, environmental, and credit assessments [3] - The LoI does not guarantee financing, as funding is contingent upon successful due diligence and meeting required conditions [4] Group 2 - Centaurus plans to engage with BNDES and explore other lenders and strategic partners for optimal funding arrangements [4] - The managing director of Centaurus highlighted the importance of the LoI, noting the significant analysis conducted by BNDES on the Jaguar project [5] - Centaurus has also signed a binding offtake agreement with Glencore for nickel concentrate from the Jaguar project, emphasizing its role in the global energy transition [6]