Centaurus Metals Limited has entered a binding offtake agreement with Glencore for nickel concentrate from its 100%-owned Jaguar Nickel Project in Brazil.

Starting in 2029, Centaurus will supply 20,000 dry metric tons annually for an initial five-year term. This volume represents approximately one-third of the site's forecasted 65,000-ton annual capacity.

Glencore will process the material at its Sudbury smelting operations in Canada. Contract pricing depends on London Metal Exchange (LME) cash settlement rates, with additional payments for copper and cobalt by-products.

The deal, valued at over US$450 million, requires Centaurus to meet development milestones, including a final investment decision by September 30, 2026, and first production by mid-January 2029.