Name of the Project
Kabanga nickel project.

Location
Ngara district of the Kagera region, western Tanzania.

Project Owner/s
Kabanga Nickel, a subsidiary of Lifezone Metals and BHP.

Project Description
Kabanga is the biggest development-ready nickel sulphide deposit in the world.

The project will be a cradle-to-gate mining operation, producing Class 1 nickel, cobalt and copper refined metals by adopting a hydrometallurgical processing technology that is more cost efficient than smelting and has a significantly lower environmental impact.

The project, which has a life-of-mine of more than 30 years, aims to produce a minimum of 65 000 t/y of nickel equivalent, with further exploration upside potential.

Lifezone intends to use its proprietary hydrometallurgical process technology – Hydromet Technology – at the project, noting that it has the potential to be a more cost-efficient alternative to conventional smelting, with a significantly lower environmental impact.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Not stated.

Planned Start/End Date
First production is targeted for 2025.

Latest Developments
Lifezone Holdings has completed an S-K 1300 technical report summary (TRS) estimating mineral resources of 40.4-million tonnes for the Kabanga nickel project.

Lifezone believes the Kabanga project comprises large and high-grade nickel sulphide deposits, with the TRS pointing to contained metal of 2.92-billion pounds of nickel equivalent grading 3.28%, 2.32-billion pounds of nickel grading 2.61%, 311-million pounds of copper grading 0.35% and 171-million pounds of cobalt grading 0.19%.

The 2022 nickel equivalent cutoff grade is 0.58% and is based on metal price assumptions of $9.50/lb for nickel, $4/lb for copper and $26/lb for cobalt.

Mineral resources are reported showing only the Lifezone-attributable tonnage portion, which is 69.7% of the total.

Lifezone recently entered into a business combination agreement with GoGreen Investments Corporation, in addition to a $90-million investment by BHP in Kabanga nickel.

The TRS for the Kabanga project is an important step forward in the development of the project.

Lifezone CEO Chris Showalter has said that the company’s proprietary hydrometallurgical processing technology is key to unlocking the value of the Kabanga project, which Lifezone believes has the potential to significantly reduce carbon emissions in battery metals refining compared to traditional smelting and refining. This ultimately contributes to the production of cleaner battery metals, Showalter has said.

Development at the Kabanga project is under way and is supported by $100-million worth of investments.

Key Contracts, Suppliers and Consultants
DRA Global (definitive feasibility study consulting engineer); and OreWin (lead mining consultant and qualified persons).

Contact Details for Project Information
Lifezone Metals, email info@lifezonemetals.com.