UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER
PURSUANT
TO RULE 13a-16 OR 15d-16
UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For
the month of December 2023
Commission
File Number: 001-41737
Lifezone
Metals Limited
Commerce
House, 1 Bowring Road
Ramsey,
Isle of Man, IM8 2LQ
(Address
of principal executive office)
Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form
20-F ☒ Form 40-F ☐
On
December 13, 2023, Lifezone Metals Limited announced the signing of a term sheet with a subsidiary of Glencore plc relating to the formation
of a recycling joint venture to be based in the United States. A copy of that announcement is furnished as Exhibit 99.1 to this report
on Form 6-K.
EXHIBIT
INDEX
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
|
Lifezone
Metals Limited |
|
|
|
Date:
December 13, 2023 |
By:
|
/s/
Chris Showalter |
|
Name:
|
Chris
Showalter |
|
Title:
|
Chief
Executive Officer |
3
Exhibit 99.1
Lifezone Metals Announces Joint Venture with
Glencore to Recycle Platinum, Palladium and Rhodium in the USA
Hydromet Technology to Recover Precious Metals
from Recycled Automotive Catalytic Converters
Lifezone Metals’ Hydromet Lab Conducting
Confirmatory Pilot Program Testing and Commence Feasibility Study
December 13, 2023
New York (United States) – Lifezone
Metals Limited (NYSE: LZM) is a modern metals company that creates value across the battery metals supply chain from resource to
metals production and recycling. Lifezone Metals’ Chief Executive Officer Chris Showalter is pleased to announce the signing of
a term sheet with a subsidiary of Glencore plc (LSE: GLEN) for a platinum, palladium and rhodium (collectively platinum group metals
or “PGMs”) recycling project utilizing Lifezone Metals’ hydrometallurgical technology (“Hydromet”) to be
based in the USA.
Phase 1 confirmatory piloting work has commenced
in Perth, Australia using Hydromet to process and recover PGMs from responsibly sourced spent automotive catalytic converters.
Mr. Showalter stated: “By applying our Hydromet
technology, we aim to responsibly recover platinum, palladium and rhodium from recycled sources in a cleaner and more efficient manner
than otherwise possible through traditional smelting and refining. Following our acquisition of Simulus Labs in July, where we acquired
the preeminent hydrometallurgical testing and engineering design group, we gained the capability to simultaneously advance our Kabanga
Nickel Project through the continuing Definitive Feasibility Study while also investigating other important applications of our core Hydromet
technology.”
Mr. Showalter continued: “In Glencore, we
have a world class partner with exceptional market reach to help position our USA recycling joint venture favorably with respect to financing
and marketing of finished PGMs. We expect our confirmatory pilot program to further validate our Hydromet capabilities and demonstrate
that we can also generate favorable economic returns from PGM recycling. Further, the facility we intend to build is highly replicable
and scalable, which is important given the very large and rapidly growing addressable market we expect in the years ahead.”
Highlights of the PGM Recycling Joint Venture
with Glencore
| · | Term
sheet signed by Lifezone Metals and Glencore for the two-phased implementation of a recycling joint venture to recover PGMs from spent
automotive catalytic converters. The joint venture will be domiciled in the USA. |
| · | The
goal of the joint venture is to profitably deliver high purity, refined PGMs from 100% recycled sources. |
| · | Lifezone
is providing its Hydromet technology for Phase 1 confirmatory piloting and design of the recycling facility. Test work is underway at
Lifezone Metals’ laboratories in Perth, Australia and is expected to be complete in the first half of 2024. |
| · | The
Phase 1 confirmatory pilot project costs are expected to be $3 million. Initial capital costs for the Phase 2 commercial-scale recycling
facility in the USA are expected to be ~$15-20 million for a ~115,000 oz per year PGM recycling facility. |
| · | Glencore
will provide a working capital facility for the Phase 2 commercial-scale recycling facility and will be the sole offtaker and marketer
of the refined PGMs. |
Lifezone Metals and Glencore PGM Recycling JV 2023 12 13 | 1 |
Phased Implementation Plan for the Joint Venture
Phase 1
Lifezone Metals has commenced a confirmatory program
of pilot test work at Lifezone Metals’ laboratories in Perth, Australia. The confirmatory program will be jointly funded by Lifezone
Metals and Glencore. Based on pilot test results, a feasibility study will be completed to outline the expected PGM recoveries, capital
and operating expenditures and expected project economics. A decision to proceed to Phase 2 will depend on the results of Phase 1 confirmatory
pilot test work and the outcomes of the feasibility study.
Figure 1: Primary filtration test completed
at Lifezone Metals’ laboratories in Perth, Australia (November 2023).
Phase 2
Following successful completion of Phase 1, Lifezone
Metals and Glencore will jointly fund the initial capital expenditures required to construct a commercial-scale PGM recycling facility.
Through the use of Lifezone Metals’ Hydromet
technology, the recycling facility will be one of the first non-smelted PGM recycling operations globally and will demonstrate at commercial-scale
a faster, more efficient and less emissions-intensive method of recycling PGMs.
Glencore will provide a working capital facility
for the recycling facility and will apply its marketing expertise in respect of 100% of the recycled PGMs.
Lifezone Metals and Glencore PGM Recycling JV 2023 12 13 | 2 |
Contact
Investor Relations – North America
Evan Young
SVP: Investor Relations & Capital Markets
evan.young@lifezonemetals.com |
Investor Relations – Europe
Ingo Hofmaier
Chief Financial Officer
ingo.hofmaier@lifezonemetals.com |
Media Enquiries
David Petrie
Corporate Communications Manager
david.petrie@lifezonemetals.com |
|
If you would like to sign up for Lifezone Metals
news alerts, please register here.
About Lifezone Metals
Lifezone Metals (NYSE: LZM) is a modern metals company creating value across the metals supply chain from resource to production and recycling. Our mission is to provide cleaner metals production through a scalable platform underpinned by our Hydromet technology. This technology has the potential to be a lower emissions and lower cost alternative to traditional smelting, allowing us to responsibly provide cleaner metals.
Our Kabanga Nickel Project in Tanzania is believed to be one of the world's largest and highest-grade undeveloped nickel sulfide deposits, with Definitive Feasibility Study currently underway. By pairing with our Hydromet Technology, we will work to unlock a new source of LME-grade nickel, copper and cobalt for the global battery metals markets. At Kabanga, we are working to empower Tanzania to achieve full value creation in-country and become the next premier source of Class 1 nickel.
www.lifezonemetals.com
Forward-Looking Statements
Certain statements made herein are not historical
facts but may be considered “forward-looking statements” within the meaning of the Securities Act of 1933, as amended, the
Securities Exchange Act of 1934, as amended and the “safe harbor” provisions under the Private Securities Litigation Reform
Act of 1995 regarding, amongst other things, the plans, strategies, and prospects, both business and financial, of Lifezone Metals Limited
and its subsidiaries and/or affiliates.
Forward-looking statements generally are accompanied
by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,”
“intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,”
“seem,” “seek,” “future,” “outlook” or the negatives of these terms or variations of them
or similar terminology or expressions that predict or indicate future events or trends or that are not statements of historical matters;
provided that the absence of these does not mean that a statement is not forward-looking. These forward-looking statements include, but
are not limited to, statements regarding future events, the estimated or anticipated future results of Lifezone Metals, future opportunities
for Lifezone Metals, including the efficacy of Lifezone Metals’ hydrometallurgical technology (Hydromet Technology) and the development
of, and processing of mineral resources at, the Kabanga Project, and other statements that are not historical facts.
Lifezone Metals and Glencore PGM Recycling JV 2023 12 13 | 3 |
These statements are based on the current expectations
of Lifezone Metals’ management and are not predictions of actual performance. These forward-looking statements are provided for
illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance,
a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict
and will differ from assumptions. Many actual events and circumstances are beyond the control of Lifezone Metals and its subsidiaries.
These statements are subject to a number of risks and uncertainties regarding Lifezone Metals’ business, and actual results may
differ materially. These risks and uncertainties include, but are not limited to: general economic, political and business conditions,
including but not limited to the economic and operational disruptions, global inflation and cost increases for materials and services;
reliability of sampling, success of any test-work, capital and operating costs varying significantly from estimates, delays in obtaining
or failures to obtain required governmental, environmental or other project approvals, changes in government regulations, legislation
and rates of taxation, inflation, changes in exchange rates and the availability of foreign exchange, fluctuations in commodity prices,
delays in the development of projects and other factors, the outcome of any legal proceedings that may be instituted against the Lifezone
Metals in connection with the business combination or otherwise; the risks related to the rollout of Lifezone Metals’ business,
the efficacy of the Hydromet Technology, and the timing of expected business milestones; the effects of competition on Lifezone Metals’
business; the ability of Lifezone Metals to execute its growth strategy, manage growth profitably and retain its key employees; the ability
of Lifezone Metals to reach and maintain profitability; enhancing future operating and financial results; complying with laws and regulations
applicable to Lifezone’s business; Lifezone’s ability to continue to comply with applicable listing standards of the NYSE;
the ability of Lifezone to maintain the listing of its securities on a U.S. national securities exchange; costs related to the business
combination; and other risks that will be detailed from time to time in filings with the U.S. Securities and Exchange Commission (SEC).
The foregoing list of risk factors is not exhaustive.
There may be additional risks that Lifezone Metals presently does not know or that Lifezone Metals currently believes are immaterial that
could also cause actual results to differ from those contained in forward-looking statements. In addition, forward-looking statements
provide Lifezone Metals’ expectations, plans or forecasts of future events and views as of the date of this communication. Lifezone
Metals anticipates that subsequent events and developments will cause Lifezone Metals’ assessments to change. However, while Lifezone
Metals may elect to update these forward-looking statements in the future, Lifezone Metals specifically disclaims any obligation to do
so.
These forward-looking statements should not be
relied upon as representing Lifezone Metals’ assessments as of any date subsequent to the date of this communication. Accordingly,
undue reliance should not be placed upon the forward-looking statements. Nothing herein should be regarded as a representation by any
person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results in such forward-looking
statements will be achieved. You should not place undue reliance on forward-looking statements in this communication, which are based
upon information available to us as of the date they are made and are qualified in their entirety by reference to the cautionary statements
herein.
Except as otherwise required by applicable law,
we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or
factors, new information, data, or methods, future events, or other changes after the date of this communication, except as required by
applicable law.
Lifezone Metals and Glencore PGM Recycling JV 2023 12 13 |
4 |
Lifezone Metals (NYSE:LZM)
Gráfica de Acción Histórica
De May 2024 a May 2024
Lifezone Metals (NYSE:LZM)
Gráfica de Acción Histórica
De May 2023 a May 2024