Centaurus secures maiden Jaguar nickel offtake with Glencore
Centaurus Metals Ltd (ASX:CTM, OTCQX:CTTZF, FRA:G1R) has signed a binding offtake agreement with global commodities group Glencore for nickel concentrate from its 100%-owned Jaguar Nickel Project in Brazil. Under the agreement, Centaurus will supply 20,000 dry metric tonnes per annum of...
Centaurus Metals Ltd(ASX:CTMOTCQX:CTTZF) View Price & Profile Centaurus secures maiden Jaguar nickel offtake with Glencore
Last updated: 21:57 15 Mar 2026 EDT, First published: 21:33 15 Mar 2026 EDT
Centaurus Metals Ltd (ASX:CTM, OTCQX:CTTZF, FRA:G1R) has signed a binding offtake agreement with global commodities group Glencore for nickel concentrate from its 100%-owned Jaguar Nickel Project in Brazil.
Under the agreement, Centaurus will supply 20,000 dry metric tonnes per annum of high-grade nickel concentrate to Glencore, representing about one-third of Jaguar’s forecast annual production capacity of 65,000 tonnes of concentrate.
The material will be shipped to Canada for processing at Glencore’s Sudbury smelting operations, with the contract scheduled to commence from the start of production in 2029 and run for an initial five-year period.
Pricing under the agreement will be linked to the London Metal Exchange (LME) cash settlement nickel price, with a variable nickel payability that adjusts with market prices. Payabilities have also been set for copper and cobalt by-products contained in the concentrate.
Centaurus said the agreement marks an important milestone in advancing the Jaguar project toward commercial development and supports ongoing project funding discussions.
Managing director Darren Gordon said securing Glencore as an offtake partner was a significant step for the company.
“The signing of our first binding offtake agreement for nickel concentrate production with Glencore is a significant achievement for Centaurus and the Jaguar Nickel Project.
“Glencore is one of the biggest names in natural resources globally and one of the longest-standing integrated participants in the nickel sector. Signing them up as a long-term offtake partner is a major coup that validates the quality of the Jaguar Project and supports our commercial development strategy.
“We look forward to building a sustainable low-cost supply of low carbon nickel in Brazil supported by Glencore’s long history in the sector and their deep knowledge of the market. Importantly, the Offtake Agreement will support and help de-risk the ongoing debt and equity funding processes which we currently have underway.”
Milestones tied to project development
The binding agreement remains subject to several development milestones being achieved ahead of production. These include a final investment decision by September 30, 2026, 50% completion of the project’s tailings dam by December 31, 2027, and first concentrate production by January 15, 2029.
If these milestones are not met, Glencore has the option to terminate the agreement.
Centaurus said the deal is estimated to exceed US$450 million in value over the five-year term based on current nickel prices.