07/05/2012 | Editor: Marcel Dröttboom
Centaurus Metals has taken another important step towards securing the main environmental approvals required for the development of its Jambreiro Iron Ore Project, located in the State of Minas Gerais, Brazil, following a positive Public Hearing with key stakeholders and the local community.
West Perth (WA), Australia – According to Centaurus, the Public Hearing, which was held in the city of São João Evangelista, local government centre of the host municipality for the Jambreiro Project, represents a major step in the environmental approval process, putting the Company on track to achieve approval for the Preliminary Licence (LP) for the Project in October 2012, in line with its development timetable.
The Jambreiro Iron Ore Project is located in the State of Minas Gerais, Brazil, approximately 130 kilometres from the key steel-making region of Ipatinga. Jambreiro is the flagship project in Centaurus’ emerging iron ore portfolio in south-eastern Brazil and is the cornerstone of its Domestic Iron Ore Business.
The Project is very well located with access to existing infrastructure. The city of Ipatinga is home to Usiminas’ existing 4.5 million tonnes per year steel mill. Arcelor Mittal also has a major steel operation, within the same general radius, at the João Monlevade blast furnace.
Centaurus completed a Pre-Feasibility Study for the Jambreiro Project in November 2011, which confirmed a financially and technically robust project with good key fundamentals including a 2 million tonnes per year operation delivering a 66 percent Fe final product into domestic steel industry in south-east Brazil with an initial 8.5 year mine life based on friable ore reserve.
Centaurus already commenced a Bankable Feasibility Study (BFS), which is scheduled to be completed by Q3 of 2012, paving the way for financing, construction and development of Jambreiro. Environmental approval and permitting processes are underway with the Company’s objective to commence construction by the start of Q2 2013 and achieve first production by Q4 of 2013.
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