Kabanga: Supported by the Partnership for
Global Infrastructure and Investment and Recognized as a Project
within the Minerals Security Partnership
Lifezone Metals Limited’s (NYSE: LZM) Chief Executive
Officer, Chris Showalter is pleased to announce that Lifezone has
engaged in high-level discussions with U.S. and Tanzanian
Government officials to further investment initiatives in critical
minerals projects in Africa.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240827168809/en/
From left to right: Keith Liddell (Chair,
Lifezone), Benedict Busunzu (CEO, Lifezone’s Tanzania subsidiary,
Tembo Nickel), K. Danae Pauli (Senior Advisor, PGI), Chris
Showalter (CEO, Lifezone), Hon. Anthony Mavunde (Tanzanian Minister
of Minerals), Michael Battle (U.S. Ambassador to Tanzania), Helaina
Matza (Acting Special Coordinator, PGI), Buberwa Mukurasi
(Economics Advisor, U.S. Embassy) and George Karumuna (Tanzanian
Ministry of Foreign Affairs) in Dar es Salaam, Tanzania on August
26, 2024. (Photo: Business Wire)
The Kabanga Nickel Project, located in north-west Tanzania, is
being advanced through a strategic partnership between Lifezone,
the Government of Tanzania and BHP Group Limited. Kabanga is
believed to be one of the world's largest and highest-grade
undeveloped nickel sulfide deposits. The Project is expected to
establish first-of-its-kind nickel, copper and cobalt processing in
Tanzania, delivering value addition and driving sustainable
development for the benefit of Tanzania’s citizens.
During a visit to Dar es Salaam on August 26, 2024, Mr.
Showalter, alongside key U.S. representatives including Acting
Special Coordinator for the Partnership for Global Infrastructure
and Investment (“PGI”), Helaina Matza and Ambassador of the United
States to Tanzania, Michael Battle, met with Tanzanian Government
officials. These meetings, which included discussions with the
Minister of Minerals, the Honorable Anthony Mavunde, focused on the
ongoing progress and future potential of the Kabanga Nickel
Project.
The U.S. Government highlighted the importance of the Kabanga
Nickel Project to help advance the energy transition and as a model
of strategic economic cooperation between the United States and
Tanzania. This collaboration was previously showcased at the
U.S.-Africa Summit in 2022 and reinforced by Vice President Harris
during her visit to Tanzania in 2023.
Lifezone’s subsidiary, Kabanga Nickel Limited, has signed a
retainer letter with the U.S. International Development Finance
Corporation (“DFC”) to commence the evaluation process for
political risk insurance coverage for future investments into the
Kabanga underground nickel-copper-cobalt mine site and the Kahama
Hydromet refinery site.
Lifezone is proposing a comprehensive investment plan that seeks
to secure the future of the Kabanga Nickel Project. Through these
collaborative efforts and discussions, Lifezone aims to strengthen
partnerships and secure investments that will contribute to the
sustainable development of critical minerals resources in
Africa.
Mr. Showalter stated: “Our partnership with the United States
and Tanzania continues to deepen as we pursue our common goals of
building resilient supply chains for critical minerals, while
fostering sustainable economic development. Further, the U.S.
Government’s recognition through the Partnership for Global
Infrastructure and Investment and identification of Kabanga as a
project within the Mineral Security Partnership demonstrates the
Project’s significance for like-minded partners as well as for the
United States. We look forward to working closely with DFC on this
Project. None of this would be possible without our partners in
Tanzania and their ongoing and demonstrated support of the
Project.”
Ms. Matza added: “PGI, as the overarching U.S. Government
approach to supporting sustainable infrastructure development, has
been a supporter of the Kabanga Nickel Project, which will
positively impact the battery supply chain security for both the
U.S. and its partners. The Kabanga Project exemplifies the goals of
sustainable development — ‘for Tanzanians, by Tanzanians’ — that
Vice President Harris articulated during her 2023 visit.”
The Kabanga Nickel Project is expected to be a fully integrated
mine-to-metal operation that will enable a fully auditable supply
chain with production of refined, LME-grade nickel, copper and
cobalt metals. Lifezone will apply its Hydromet Technology, which
provides an alternative to traditional pyrometallurgical smelting,
and is able to significantly reduce carbon dioxide and sulfur
dioxide emissions (relative to smelting) with lower expected
operating and capital costs. The Kabanga Definitive Feasibility
Study is progressing towards completion in September.
About PGI
The Office of the U.S. Coordinator for the Partnership for
Global Infrastructure and Investment (PGI) leads and coordinates
the U.S. President’s flagship G7+ initiative for the advancement of
strategic, values-driven and high standard infrastructure and
investment in low- and middle-income countries. Through PGI, the
U.S. government alongside our G7 partners aims to mobilize $600
billion over the next five years in global infrastructure
investments that will make a difference in people’s lives around
the world, strengthen and diversify our supply chains, and advance
shared national security interests.
The Partnership for Global Infrastructure and Investment -
United States Department of State
About MSP
The Minerals Security Partnership (MSP) aims to accelerate the
development of diverse and sustainable critical energy minerals
supply chains through working with host governments and industry to
facilitate targeted financial and diplomatic support for strategic
projects along the value chain. MSP partners include Australia,
Canada, Estonia, Finland, France, Germany, India, Italy, Japan,
Norway, the Republic of Korea, Sweden, the United Kingdom, the
United States, and the European Union (represented by the European
Commission). The MSP considers projects along the full clean energy
value chain, from mining, extraction, and secondary recovery, to
processing and refining, and ultimately to recycling. MSP Partners
strive to elevate environmental, social, and governance principles
across the minerals sector, supporting projects that promote local
value addition and uplift communities.
Minerals Security Partnership - United States Department of
State
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About Lifezone Metals
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 the potential for lower energy consumption, lower emissions
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, to 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
mine-to-metals project is due for completion in Q3 2024.
Through our US-based, platinum, palladium and rhodium recycling
partnership, 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.
https://lifezonemetals.com
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version on businesswire.com: https://www.businesswire.com/news/home/20240827168809/en/
Investor Relations – North America Evan Young SVP:
Investor Relations & Capital Markets
evan.young@lifezonemetals.com
Media Enquiries David Petrie Manager: Corporate
Communications david.petrie@lifezonemetals.com
Investor Relations – Europe Ingo Hofmaier Chief Financial
Officer ingo.hofmaier@lifezonemetals.com
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