Name and Location
Jambreiro iron-ore project, Brazil.

Client
Centaurus Metals.

Project Description
The project is based on a Joint Ore Reserves Committee-compliant resource of 125-million tons, grading 26.7% iron.

The ore reserve will provide 18-million tons of high-grade, low-impurity sinter blend concentrate – enough to underpin nine years of production at an initial two-million-tons-a-year production rate.

Value
The project has a preproduction capital estimate of A$136-million.

Duration
The company’s project execution plan centres on the start of on-site construction that will immediately follow the receipt of an installation licence, expected in April 2013. Construction is expected to take eight months, by which time the company is expected to have been granted its mining lease, enabling it to start full-scale production.

Latest Developments
Centaurus Metals has secured a key installation licence for its Jambreiro project, clearing the way for on-site construction to start.

The granting of the licence was achieved ahead of schedule and follows the approval of the project’s environmental control plans.

The licence marks the final regulatory milestone reached to start construction.

Initial development work is already under way and actual works are scheduled to start at the end of April, subject to the completion of suitable offtake arrangements and the finalisation of the overall funding mix.

The installation licence allowed Centaurus to operate at a production rate of three-million tons a year of saleable product, although the company has previously said it would start production at an initial rate of two-million tons a year.

Key Contracts and Suppliers
MCA Auditoria e Gerenciamento (MSC) and Tetra Tech (EP).

On Budget and on Time?
Centaurus MD Darren Gordon says that the team in Brazil continues to deliver against the company’s timetable and it continues to work its way towards production by the end of the year, “systematically ticking all of the boxes required to allow the Jambreiro development to move ahead on time.”

Contact Details for Project Information
Centaurus Metals, tel +61 8 9420 4000, fax +61 8 9420 4040 or email office@centaurus.com.au.
MCA Auditoria e Gerenciamento, tel +55 31 2127 6800 or email comunicacao@mca.srv.br.
Tetra Tech, tel +1 626 351 4664, fax +1 626 351 5291 or email info@tetratech.com.