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Lifezone Metals acquires BHP's 17% stake in the $2.5 billion Kabanga Nickel Project in Tanzania.

Jul 21, 2025•11 months ago

Contract Type

partnership

New YorkManufacturingRenewable EnergyMiningPrecious MetalsMineral

Description

Lifezone Metals has purchased BHP's 17% equity interest in the Kabanga Nickel Project for up to $83 million. The project, expected to produce 50,000 metric tons of nickel annually, will now be fully owned by Lifezone.

Company Information

Company

Lifezone Metals

Location

New York, United States

About

At Lifezone Metals (NYSE: LZM), our mission is to provide cleaner and more responsible metals production and recycling. Using a scalable platform underpinned by our Hydromet Technology, we offer lower energy, lower emission and lower cost metals production compared to traditional smelting. Our Kabanga Nickel Project in Tanzania is believed to be one of the world's largest and highest-grade undeveloped nickel sulfide deposits. By pairing with our Hydromet Technology, we are working to unlock a new source of LME-grade nickel, copper and cobalt for the global battery metals markets, and empower Tanzania to achieve full in-country value creation and become the next premier source of Class 1 nickel. A Definitive Feasibility Study for the project is due for completion by Q3 2024. Through our US-based, platinum, palladium and rhodium recycling joint venture, we are working to demonstrate that our Hydromet Technology can process and recover platinum group metals from responsibly sourced spent automotive catalytic converters in a cleaner and more efficient way than conventional smelting and refining methods. www.lifezonemetals.com

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