Centaurus Metals Limited (ASX: CTM), an Australian-based company primarily focused on the development of nickel projects, including the significant Jaguar Nickel Project in Brazil, has announced the completion of the first tranche of its strategic investment with Glencore. On 3 November 2026, Centaurus Metals advised it has issued 41,903,070 fully-paid ordinary shares to a wholly-owned subsidiary of Glencore AG, securing an initial investment of US$12.5 million (approximately A$17.8 million). This completion marks the first segment of Glencore’s total US$20 million strategic commitment, initially announced on 28 October 2026.
The shares issued to Glencore were priced at A$0.425 per share, representing a 5% premium to the 20-day Volume Weighted Average Price (VWAP) prior to the execution date of the associated off-take and subscription agreements. In addition to the Glencore transaction, Centaurus Metals has also entered into a separate US$20 million subscription agreement with a wholly-owned subsidiary of CNGR Advanced Material Co. Ltd. CNGR, a global leader in advanced battery materials and nickel processing and one of the world’s largest precursor Cathode Active Material (pCAM) producers, is expected to have its Tranche 1 shares issued in the coming days at the same subscription price.
Collectively, these strategic investments from Glencore and CNGR will inject a combined US$40 million in funding to advance the development of the Jaguar Nickel Project in Brazil. This capital is intended to contribute significantly to the project’s overall funding package. Further solidifying their commitment, both Glencore and CNGR have also executed five-year off-take agreements for product from the Jaguar Project.
The subsequent issue of Tranche 2 shares, valued at US$7.5 million each for both Glencore and CNGR, remains subject to several conditions. These include Centaurus Metals shareholder approval at a General Meeting of the company and the making of a Final Investment Decision concerning the development of the Jaguar Project. Additionally, CNGR’s Tranche 2 investment is contingent on obtaining Chinese Overseas Direct Investment (ODI) approval.
