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Centaurus Metals Unit Gets Approval to Connect Flagship Brazilian Project With National Power Grid

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Centaurus Metals' (ASX:CTM) Brazilian subsidiary received approval from the local electric grid operator to connect its flagship Jaguar nickel sulphide project to Brazil's national 230-kilovolt power grid, according to a Wednesday filing with the Australian bourse.

The approval secures an initial allocation of 20 megawatts of power, for which the company will lodge a 9.7 million Brazilian reais guarantee with the grid operator within 90 days, per the filing.

The company noted that electricity supplied through the national transmission network is more reliable than the regional lower voltage distribution system with significantly lower charges, which should provide a meaningful long-term operating cost benefit for the project.

Centaurus Metals shares gained about 2% in recent Wednesday trade.

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