Lifezone Metals consolidates control of Kabanga Nickel Project in Tanzania

Lifezone Metals (LZM) Founder and Chair, Keith Liddell, and CEO, Chris Showalter, announced that Lifezone has completed a definitive agreement with BHP Billiton (BHP) to acquire BHP’s 17% equity interest in Kabanga Nickel Limited, the majority owner of the Kabanga Nickel Project in northwestern Tanzania. As a result of the transaction, Lifezone owns 100% of KNL, which in turn holds an 84% interest in Tembo Nickel Corporation Limited, the Tanzanian operating company for the Kabanga Nickel Project. The remaining 16% of TNCL is held by the Government of Tanzania. All existing agreements with BHP, including the T2 Option Agreement, have been terminated. Lifezone has assumed full control of 100% of the offtake from the Kabanga Nickel Project.