Lifezone Metals launches off-take marketing process for Kabanga project
Lifezone Holdings has launched an off-take marketing process for nickel, copper and cobalt from the Kabanga nickel project. The move follows a recent entry into a Business Combination Agreement with GoGreen Investments Corporation, a publicly traded company on the NYSE (GoGreen).
The Kabanga Project is an exploration-stage project. Lifezone Metals believes that the Kabanga Project, located in north-west Tanzania, comprises one of the world’s largest and highest grade nickel sulfide deposits.
The Kabanga Project is located within the East African nickel belt which extends 1,500 km along a north-east trend that extends from Zambia in the south-west, though the Democratic Republic of Congo, Burundi, Rwanda, Tanzania and Uganda in the north-east, and straddles the western boundary of the Tanzania Craton to the east and the eastern boundary of the Congo Kasai Craton to the West.
Clean energy
Lifezone Metals seeks to support the clean energy transition through licensing of its proprietary hydromet mineral processing technology as an alternative to smelting in metals production and becoming an emerging supplier of responsibly sourced, low-carbon and low-sulfur dioxide emission metals to the battery, electric vehicle and hydrogen markets.
Lifezone Metals is entitled to certain off-take marketing rights with respect to the Kabanga Project and has retained the marketing rights for up to 40%, in aggregate, of the total contained nickel, cobalt and copper production from the Kabanga Project.
Chris Showalter, CEO of Lifezone Metals, said: “The commencement of the off-take marketing process for the nickel, cobalt and copper to be produced at the Kabanga Project is a key milestone in the development of Lifezone Metals, as we work to build a champion for cleaner metals to support the global energy transition. There is a clear focus on upstream environmental footprint driven by consumer demand and regulatory targets in the US and Europe, and we expect a shift away from heavy-polluting sources of raw materials into the battery and EV supply chain. Recent test results indicate that the Kabanga Project’s nickel concentrate is amenable to processing using the Hydromet Technology, which we believe is key to unlocking the value of the project and paving the way for our future cleaner metal products.”
