Centaurus Metals Ltd (ASX:CTM) announced on Wednesday that it has secured three mining leases that comprise the tenement package at its flagship Jambreiro iron ore project in Brazil.
As quoted in the press release:
“While we already had the necessary approval required to start construction on site in the form of the previously granted Installation Licence (LI), the grant of the Mining Leases represents the culmination of the approval process with the Mines Department (DNPM) and the Ministry of Mines and Energy and marks a further key milestone in our development process,” said Centaurus managing director Darren Gordon.
“It will also greatly assist with our funding process, which in turn will clear the way for us to commence construction of a 1Mtpa project at Jambreiro in the coming months under the new development plan announced just before Christmas. From this initial production base – and with all approvals secured for up to 3Mtpa of production at Jambreiro.”