Name of the Project
Jambreiro iron-ore project.

Location
The project is located in the state of Minas Gerais, in south-east Brazil.

Project Owner/s
Centaurus Metals.

Project Description
Jambreiro has proven and probable reserves of 48.5-million tonnes grading 28.1% iron.

The prefeasibility study envisages a one-million-tonne-a-year operation, with final product grading 65% iron over an 18-year mine life, using a mining contractor for all mining activities on site.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of $245.6-million and an after-tax internal rate of return of 37%.

Capital Expenditure
Capital expenditure is estimated at $58.8-million.

Planned Start/End Date
Not stated.

Latest Developments
Centaurus Metals reported encouraging results from recent bench-scale metallurgical testwork at the Jambreiro project on April 10, confirming the potential for the project to produce a direct reduction pellet feed (DRPF) product across its entire projected mine life.

The average product specification achieved from the testwork programme delivered an iron grade of 67.8% iron, 1.08% silica and 0.64% alumina, with this specification well within the 2% threshold required to achieve a direct reduction quality product. The average phosphorus grade in the concentrate product was very low at 0.011%.

Centaurus is assessing the impact of the changes on the process flowsheet on previous capital and operating cost estimates so that the company can confirm, at a high level, its expectations that the production of a DRPF product can deliver strong economics for the company at a time when the steel industry is demanding lower-emission iron products as feedstock for its steelmaking activities. This work should be completed in the first half of 2024.

Key Contracts and Suppliers
None stated.

Contact Details for Project Information
Centaurus Metals, tel +55 31 3194 7750 or email recepcaobh@centaurus.com.au.