Centaurus Metals (ASX:CTM) has secured wide-ranging state tax incentives for its flagship Jaguar Nickel Sulphide Project in Brazil.
The company’s wholly-owned Brazilian subsidiary, Centaurus Niquel, has been selected by the State of Pará to receive the incentives under State Act N. 6716/2005.
The incentives apply to ICMS, Brazil’s equivalent of goods and services tax, which is typically levied at 20% in Pará State.
The program includes full ICMS exemption on all purchases of goods, equipment, raw materials, and reagents (both within Pará and imports), as well as on equipment not manufactured in Brazil.
The company also receives exemption on the ICMS differential for equipment purchased in other Brazilian states.
Centaurus Metals has also secured a 50% ICMS reduction on fuel and power purchased within Pará State.
The exemptions are effected through an ICMS deferral, which transfers the tax burden to the next stage of the supply chain. For Jaguar, this effectively represents an exemption, as nickel concentrate exports are exempt from ICMS.
“The Pará State Administration is committed to the sustainable development of critical minerals that support the energy transition, and this sits at the core of the development of the Jaguar Project,” Managing Director Darren Gordon says.
The company continues to advance the funding package for the Jaguar project to support a Final Investment Decision, targeted for the end of September 2026.
The state tax incentives provide immediate economic benefits on goods and services purchased as part of the project’s development phase. The incentives were gazetted in the Official Gazette of the State of Pará following the selection process.
Write to JC Villarba at Mining.com.au
Images: Centaurus Metals
