Centaurus Metals has told delegates at the Noosa Mining Conference 2026 that financing for its flagship Jaguar nickel sulphide project in Brazil is approaching a conclusion. The update, delivered on 23 July, comes after months of feasibility studies and offtake negotiations, and suggests that a final investment decision could be imminent.
The Jaguar project is one of the most advanced nickel sulphide developments outside of Australia and Canada, with a resource base that positions it as a potential supplier to the electric vehicle battery supply chain. Centaurus has been working to secure a mix of debt and equity funding, and management indicated at the conference that discussions with strategic partners and lenders are in their final stages.
Nickel prices have been volatile in 2026, with the London Metal Exchange three-month contract recently trading around $18,500 per tonne, down from highs seen earlier in the year. Analysts at CRU Group have noted that while near-term demand from stainless steel remains soft, the long-term outlook for nickel in batteries continues to support project financing for high-grade, low-cost developments such as Jaguar.
For UK investors, the update carries significance because Centaurus Metals is dual-listed, with a London listing via depositary interests. Pension funds and ETFs with exposure to the FTSE All-Share mining index may have indirect holdings. The broader critical minerals sector has attracted increased government attention, with the UK's Critical Minerals Strategy identifying nickel as a priority metal for domestic supply chain resilience.
Market reaction on the ASX saw Centaurus shares rise 3.2% on the day, though trading volumes were moderate. The FTSE 100 edged up 0.1% to 8,215 points, supported by gains in mining stocks including Glencore and Anglo American, both of which have nickel interests. Analysts at Canaccord Genuity commented that a successful funding close for Jaguar would be a positive signal for the wider junior mining sector, which has struggled to attract capital in a high-interest-rate environment.