Glencore and CNGR invest in Brazilian nickel project
1 report, 1 independent
Updated Oct 28
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What happened
Glencore and China’s CNGR committed $40 million each to Centaurus Metals. The companies agreed to purchase all forecast nickel concentrate output from the $380 million Jaguar project in Brazil for its first five years of operations. These agreements cover material containing 30% nickel, with an estimated combined net sales value of $900 million at current metal prices.
From mining.com
Why it matters
The contracts secure long-term nickel supplies, underscoring the interest of major commodity traders in the battery metals market. The investment advances the commercial and funding foundations required to develop the Jaguar project.
From mining.com
Who's involved
- ParáThe state where the major mining investment is taking place.
- Daniel SantosA candidate running for governor within the political context of Pará.
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The entities involved
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Pará
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