Centaurus Metals (ASX: CTM) has been granted three mining leases that comprise the tenement package at its flagship Jambreiro Iron Ore project in southeast Brazil.
The mining leases allows the company the company to commence operations on completion of the construction process and will also assist in completion of the funding process for developing the project.
Start-up development for Jambreiro consists of a first stage 1 million tonne per annum project with pre-production capital expenditure of A$53 million with average life‐of‐mine C1 cash operating costs of A$22 per tonne.
This can be subsequently expanded to between 2Mtpa and 3Mtpa.
Jambreiro has a Proven and Probable Ore Reserve of 48.5 million tonnes grading 28.1% iron and a Resource of 128Mt at 27.2% iron.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.