Centaurus receives BNDES LoI for Jaguar nickel project
Australia-listed Centaurus Metals has received a letter of intent (LoI) from Brazil’s development bank, Banco Nacional de Desenvolvimento Econômico e Social (BNDES), for R$1-billion (about $190-million) in potential debt funding for its Jaguar nickel project.
The non-binding LoI follows an assessment of the project and signals BNDES’s 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 programme.
“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.
BNDES’s detailed technical, financial, legal and environmental assessment process would now follow ahead of a final credit decision by the bank’s board.
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