en.Wedoany.com Reported - Australian mining company Centaurus Metals (ASX: CTM) announced in July 2026 that its Jaguar nickel sulfide project in São Félix do Xingu, southeastern Pará, Brazil, has entered the final investment decision stage, with mine construction expected to commence within the next 90 days. The total investment for the project is estimated at $380 million, making it one of the most significant nickel sulfide projects currently under development in Brazil.
Centaurus Metals is an Australia-based mineral exploration and development company focused on strategic mineral resources such as nickel, copper, and gold in the Carajás Mineral Province of Pará, Brazil. The Jaguar nickel sulfide project is located in the southern part of the Carajás Mineral Province, covering a mining area of approximately 30 square kilometers, about 250 kilometers from the regional hub of Parauapebas. The project includes multiple deposits such as Jaguar North and Jaguar South, and is planned for open-pit mining development.
In terms of project progress, Centaurus Metals has recently achieved several key milestones. The company has signed a $450 million forward sales agreement for nickel products with international commodity trader Glencore. Additionally, it has received multiple non-binding financing indications totaling up to $320 million. Regarding energy security, Brazil's National Electric System Operator (ONS) has approved the project's connection to the national grid, with an initial power supply capacity of 20 megawatts, for which the company must construct a 230 kV transmission line approximately 36 kilometers long. The Pará state government has also approved ICMS tax incentives for equipment, raw materials, electricity, and fuel.
The Jaguar project is located in the Carajás region, one of the world's most important mining provinces, which is experiencing rapid growth in strategic mineral investments. Nickel is a core raw material for clean energy technologies such as electric vehicle batteries and energy storage systems, with global demand for nickel continuing to rise amid the energy transition. If the final investment decision is approved within the third quarter of 2026, construction will begin this year, expected to significantly boost mining economic development in southern Pará and create numerous jobs.
