Centaurus Metals (ASX:CTM) will be required to make upgrades to its power transmission capacity in order to meet the power requirements at the group’s Jaguar Nickel Project in Brazil, from the Equatorial Pará Distribuidora da Energia.
The Ministry of Mines and Energy had previously approved Jaguar’s request for 47 megawatts of power, based on the assessment that the required supply could be met from existing network capacity.
Based on discussions with various key Brazilian energy supply agencies, the power grid upgrade process should deliver expanded power transmission capacity to the region consistent with the Jaguar Project’s current development timeline.
The company will work closely with these agencies to ensure that the advised timeline for the transmission capacity expansion remains on track to support the development of Jaguar.
In conjunction, Centaurus will continue to assess other short-term power options in case there is slippage in the power grid upgrade process to ensure the project timeline remains on track.
Managing Director Darren Gordon says based on current estimates, Jaguar’s capacity should be delivered in line with its current project development timeline.
“Jaguar is a world-class nickel asset, with 1.2 million tonnes of contained nickel, underpinned by outstanding economics and is poised to become a major new long-life mining asset,” Gordon says.
Centaurus Metals is an Australian critical minerals explorer and developer focused on the development of the Jaguar Project located in Northern Brazil.
Write to Aaliyah Rogan at Mining.com.au
Images: Centaurus Metals
