Centaurus Resources has passed a major milestone at its Jambreiro iron ore project in Brazil, awarding an engineering and procurement contract for the project’s development.
Centaurus today announced it had signed up the Brazilian subsidiary of global engineering and technical services group Tetra Tech for the second major contract at the Jambreiro mine.
The company appointed a management support contract to Brazil’s MCA Auditoria e Gerenciamento in February.
Centaurus said the project’s development schedule was on track, with a final installation licence expected to be received by next month.
Managing director Darren Gordon said Tetra Tech was ideally suited to take on the engineering and procurement role at Jambreiro.
“This gives us confidence in their delivery capabilities and experience in effectively implementing iron ore projects on time and on budget,” Mr Gordon said in a statement.
“The award of the management support and EP contracts, together with the start of the long-lead procurement process, puts us in a strong position to achieve our development timetable, which is based on delivering first product by the end of the calendar year.”
Mr Gordon said a final investment decision and full capital works budget would be delivered once a project financing facility is finalised.
At close of trade today, Centaurus shares were steady at 28 cents, with just over 71,000 shares changing hands.