August 5, 2019 / 11:38 PM / 4 months ago

Australia's Centaurus Metals to acquire nickel sulphide project from Brazil's Vale

Aug 6 (Reuters) - Australia’s Centaurus Metals Ltd on Tuesday said it had reached an agreement to acquire a large-scale nickel sulphide project from Vale SA in northern Brazil.

The deal which comprises of an upfront cash payment of $250,000, also includes the transfer of the Salobo West Copper-Gold Project tenements to Brazil’s Vale.

Vale, the world’s largest iron ore exporter, will also have the right to purchase 100% of production from the Jaguar Nickel Sulphide Project under a future offtake agreement, the company said in a statement.

Reporting by Shriya Ramakrishnan in Bengaluru; Editing by Stephen Coates

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