Centaurus Metals (ASX:CTM) has received a formal letter of intent from the Brazilian National Development Bank for a debt funding package totalling R$1 billion (approximately US$190 million).
The non-binding agreement marks a pivotal milestone in the company’s financing strategy for the 100%-owned project located in the Carajás Mineral Province of Pará, Brazil.
The funding is slated to be provided through BNDES' primary long-term facility, FINEM, which is specifically designed to support capital-intensive infrastructure and mining developments.
The BNDES support follows a rigorous six-month assessment of the project's viability and aligns with Brazil's strategic prioritisation of critical minerals essential for the global energy transition.
Managing Director Darren Gordon highlighted that the LOI, combined with a recently signed binding offtake agreement with Glencore, places Centaurus in a robust position to finalise its project financing.
Key features of the proposed FINEM facility include long-tenor debt on competitive terms and sculptured repayments designed to align with project cashflows and risk parameters.
Moving forward, the Jaguar Nickel Project will advance into the bank’s detailed technical, environmental, and legal credit approval phase.
Centaurus originally submitted its formal application in September 2025 and will continue to collaborate with BNDES and other potential strategic partners to optimise the project's final funding structure as it moves toward construction.
At the time of reporting, Centaurus Metals' share price was $0.50.