Centaurus Metals (CTM) has released a ‘Base-case’ Scoping Study for development of the Jaguar nickel sulphide project in Brazil. This scenario incorporates a 2.7Mt flotation plant, fed from eight deposits with open pit and underground mining. The study generates robust financial outcomes over an initial 10-year mine life. We expect a future ‘Value-add’ project model to provide better financial outcomes than the base-case study. Nickel is well positioned to capture growth from the emerging EV battery market. Nickel metal pricing has recently suffered downward pressure on news of a potentially disruptive technology that may allow conversion of nickel pig iron (NPI) to high quality matte. If this production pathway is technically viable, we expect is to be both financially and environmentally costly. CTM is well positioned to become a low carbon footprint nickel producer and we speculate it will be rewarded through investment by ESG funds and/or environmentally sensitive OEMs.
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