Centaurus adjusts Jambreiro schedule

Company News

Iron ore explorer Centaurus Metals Limited (ASX:CTM) has revised its target schedule for development of its flagship Jambreiro project in Brazil.

The changes come on the back of what Centaurus says have been positive recent developments with ongoing negotiations for product off-take.

Negotiations with potential customers in Brazil led to the review of the development schedule, as Centaurus seeks to establish a life-of-mine contract for the concentrates to be produced at Jambreiro.

The company says it now expects to commission the project mid next year, from an original date scheduled for the end of the current calendar year.

Centaurus Metals reported a $20.7 million loss in the 2012 financial year.