Centaurus receives BNDES LoI for Jaguar nickel project

The non-binding LoI follows an assessment of the project and signals BNDES’ intention to support its development through the bank’s long-term FINEM financing facility, subject to further credit approvals.

“These LoIs can only be issued after significant analysis of the relevant project has been undertaken," commented Centaurus MD Darren Gordon. "We thank BNDES for the significant work they have carried out on the Jaguar project over the past six months and in assessing the Project for inclusion in its primary long-term FINEM funding program.

“BNDES is a significant part of the Brazilian government ecosystem and a major facilitator of finance for large-scale projects in Brazil including new critical mineral developments like that being contemplated at Jaguar. Their support through this LoI highlights the strategic importance of the Jaguar project as a future supplier of responsibly produced nickel for the global energy transition."

Gordon added that the LoI, together with the recent announcement of a binding offtake agreement with Glencore, would position Centaurus strongly to progress towards credit approval of the FINEM long term debt funding package with BNDES.

The would now move into BNDES’ detailed technical, financial, legal and environmental assessment processes ahead of a final credit decision by the bank’s board.