Key Highlights

  • Centaurus Metals (ASX:CTM) announced on 12 October 2026 that its offtake agreement with Glencore, first announced on 16 March 2026, remains binding and effective.
  • Glencore confirmed its intention to maintain the agreement on the previously announced terms.
  • The company is at an advanced stage of negotiations for additional offtake and strategic funding, and the senior debt financing process is well advanced.

Centaurus Metals Limited (ASX:CTM, OTCQX:CTTZF) announced on 12 October 2026 that Glencore has confirmed its binding offtake agreement for the Jaguar Nickel Project remains in effect, as the company works to finalise a funding package for the project.

This article describes the company, the sector context, the announcement and the factors that may influence the project.

About Centaurus Metals

Centaurus Metals Limited is an ASX-listed developer, also quoted on the OTCQX, with an Australian office in West Perth and a Brazilian office in Belo Horizonte, Minas Gerais. Its Jaguar Nickel Project is in Brazil, held through Centaurus Brasil Mineraco Ltda.

Centaurus does not report production revenue. It is working to complete an overarching funding package to support a Final Investment Decision (FID) and development of the project.

Sector backdrop

Offtake agreements, in which a buyer agrees to purchase a share of future production, are often a requirement for project financing, because lenders use them to assess revenue certainty. Developers typically combine offtake, strategic funding and senior debt into a financing package before an FID.

Nickel projects outside the main producing regions seek offtake and financing from major trading and mining groups. The terms of such agreements are usually set out in earlier announcements.

Companies sometimes confirm that agreements remain in effect when market or project circumstances change, to give the market clarity.

In financing a nickel project, a developer usually needs confirmation that offtake arrangements will remain in place through the financing process, since lenders and strategic investors review them. A statement from the buyer that it intends to maintain an agreement on its original terms is one way a developer shows that this part of the package is unchanged.

Offtake confirmation announced on 12 October 2026

Confirmation

Centaurus confirmed that its offtake agreement with Glencore, announced on 16 March 2026, remains binding and effective. Having been kept up to date on progress of the Jaguar Project development, Glencore confirmed its intention to maintain the agreement on the previously announced terms. The announcement does not restate the terms of the agreement.

Funding progress

As announced on 2 October 2026, Centaurus is at an advanced stage of negotiations and final documentation for additional offtake and strategic funding for the Jaguar Nickel Project. The senior debt financing process is also well advanced. The company expects to provide further updates on these funding initiatives in the near term and describes them as the final components of the funding strategy supporting a Final Investment Decision.

The announcement is a short confirmation and was approved for release by the Managing Director. It names investor and media contacts and lists the company's Australian office in West Perth and its Brazilian office in Belo Horizonte. The company also notes that its shares are quoted on the OTCQX in the United States under the code CTTZF, and says that the confirmation provides certainty around a key component of the Jaguar development and funding strategy while it advances the remaining elements of the financing package.

Core growth drivers and material operating risks

Core growth drivers

The items identified are finalisation of additional offtake and strategic funding, completion of senior debt financing, and the overarching funding package needed for a Final Investment Decision.

Material operating risks

The funding package is not yet complete, and the announcement describes negotiations and documentation as advanced rather than concluded. An FID has not been made. The announcement does not give amounts, pricing or volumes, so the scale of funding and offtake is not stated here. Development in Brazil requires approvals, construction and operating readiness.

The announcement is brief, and it does not list the amount of the additional offtake and strategic funding, the identity of the counterparties, the size of the senior debt facility or the date of a Final Investment Decision. It states that further updates on the funding initiatives are expected in the near term.