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Centaurus Metals Limited (ASX:CTM)

ALERT: Price-sensitive ASX Announcement for CTM
Current share price for CTM : $0.435 -0.095 (-17.92%)+
Announcement
Release
16 Mar 2026 9:30AM
Price at Release
$0.530
Full Release
download
Summary
Centaurus Metals Limited has secured a binding Offtake Agreement with Glencore for the Jaguar Nickel Sulphide Project in Brazil. This agreement involves supplying 20,000 dry metric tonnes annually of high-grade nickel concentrate to Glencore, mainly for processing at its Sudbury operations in Canada. This represents about 30% of Jaguar's projected output, and its pricing will be linked to the London Metal Exchange Cash Settlement nickel price with adjustments based on market fluctuations. The contract's value exceeds US$450 million over its initial five-year term, contingent upon certain milestones being met, including a Final Investment Decision by Centaurus’ board by September 2026, and initial production by January 2029. Failure to meet these milestones allows Glencore to terminate the agreement. This partnership is seen as a significant step in validating and advancing Centaurus' Jaguar Project.
Key Points
  • Executed a binding Offtake Agreement with Glencore for nickel concentrate supply from the Jaguar Nickel Sulphide Project in Brazil.
  • The agreement involves supplying 20,000 dry metric tonnes per annum of high-grade nickel concentrate to Glencore, primarily for treatment at Glencore’s Sudbury smelting operations in Canada.
  • The Offtake Agreement represents approximately 30% of Jaguar’s planned annual production.
  • Pricing is linked to the London Metal Exchange Cash Settlement nickel price with variable nickel payability.
  • The agreement is binding subject to the fulfillment of milestones including a Final Investment Decision by Centaurus’ Board by 30 September 2026, 50% completion of tailings dam construction by 31 December 2027, and first production by 15 January 2029.
  • The estimated value of the Offtake Agreement at current nickel prices exceeds US$450 million over the five-year contract.
  • Glencore has the right to terminate the agreement if milestones are not met.
  • Centaurus’ Managing Director emphasized the significance of this agreement with Glencore as a validation of the Jaguar Project and its development strategy.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.