Kahama Area Formally Declared a Special
Economic Zone
Marks Another Important Step for Tanzania
Towards Establishing Transformational Method of Metals Recovery and
Full In-Country Beneficiation
Lifezone Metals Limited’s (NYSE: LZM) Chief Executive Officer,
Chris Showalter, is pleased to announce that the Company has
received a Multi-Metal Processing Facility Licence from the
Government of Tanzania to refine nickel, copper and cobalt from its
Kabanga Nickel Project at Kahama, located beside Barrick Gold’s
former Buzwagi Gold Mine.
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the full release here:
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Lifezone’s CEO, Chris Showalter, receives
the Kahama Refinery Licence with a handshake from the Minister of
Minerals, Hon. Anthony Mavunde. (Photo: Business Wire)
The Kabanga Nickel Project is located in the north-west Tanzania
and is believed to be one of the world’s largest and highest-grade
undeveloped nickel sulfide deposits. The Kahama Multi-Metal
Processing Facility (“the Kahama Refinery”) site is located
approximately 340 kilometers south-west of Kabanga. Lifezone’s
subsidiary, Tembo Nickel Corporation Ltd. (“Tembo Nickel”) is the
operating entity for Kabanga and Kahama, and is 16% owned by the
Government of Tanzania.
Notably, through the application of Lifezone’s Hydromet
Technology, Kabanga and Kahama will be able to produce finished
metals in-country, potentially reducing capital and operating
costs, as well as reducing costs associated with transport of
concentrate or other intermediate products. Full in-country
beneficiation will contribute towards local content optimization
and eventually national development through the principle of
equitable sharing of economic benefits. A Definitive Feasibility
Study for the Kabanga Nickel Project remains on track for
completion by Q3 2024.
Lifezone Metals’ Hydromet Technology is a transformational
method of metals recovery that has the potential to replace
smelting for base and precious metals refining. Pyrometallurgical
smelting is one of the largest contributors to pollutive gas
emissions, greenhouse gases and energy inefficiency in the
production of metals products and the use of Hydromet Technology
will help to unlock nickel, copper and cobalt from Kabanga,
providing lower cost, lower emissions (relative to smelting) and
traceable metals for Electric Vehicles batteries and to support the
global energy transition.
Mr. Showalter stated: “The ongoing level of commitment and
support that we have received from the Government of Tanzania in
the advancement of our Kabanga Nickel Project is exemplary. With
the receipt of our Kabanga Special Mining Licence, and now the
Kahama Refinery Licence, we have a clear path to delivering a
direct-to-metal solution and enabling the production of nickel,
copper and cobalt in Tanzania and by Tanzanians.”
Speaking at the ceremony, Minister of Minerals, Hon. Anthony
Mavunde stated (translated from Swahili): “The construction of a
multi-metals refinery will be a solution to metals mining companies
in country that are forced to export concentrates to refineries
abroad. I urge all miners who have been experiencing this challenge
to work closely with the Government to ensure that we all succeed
in ensuring full in-country beneficiation is achieved in the mining
sector, by processing in-country and exporting finished products.
[…] Today’s event is a historical one for our country, as we
progress to having a large multi-metal refinery that will use
hydrometallurgy technology.”
In addition, the Shinyanga Regional Commissioner, Hon. Anamringi
Macha said (translated from Swahili): “The investment by Tembo
Nickel’s Multi-Metals Refinery will help change the face of the
Kahama district and the Shinyanga Region by increasing formal and
informal employment opportunities for citizens, but it is also
another step in the history of Shinyanga region; where the mining
sector has played a major role in the economic development of our
region.”
The issuance of the Kahama Refinery License follows the formal
gazettement of the Special Economic Zone (Declaration) Notice, 2024
which declared the Buzwagi Mining Area, within Kahama District in
Shinyanga Region, a Special Economic Zone. The Kahama Refinery will
be located within the Special Economic Zone, which will provide
certain tax and other economic benefits for the Project.
In addition, the Kahama Refinery stands to benefit from access
to a highly trained workforce and legacy infrastructure from the
Buzwagi Gold Mine, including existing camp and office buildings,
regional power connections, airstrip, road connections and railway
in near proximity. This “plug-and-play” industrial hub brings
significant project execution and capital cost benefits, as well as
turning a past-producing mine liability into a long-term asset.
Lifezone will not be taking on any legacy liabilities in relation
to the closure of the Buzwagi Gold Mine.
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please register here.
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 lower energy, lower emission 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, and 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 project
is due for completion by Q3 2024.
Through our US-based, platinum, palladium and rhodium recycling
joint venture, 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
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.
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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.
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
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and its subsidiaries. These statements are subject to a number of
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actual results may differ materially. These risks and uncertainties
include, but are not limited to: general economic, political and
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operational disruptions; global inflation and cost increases for
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efficacy of the Hydromet Technology, and the timing of expected
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the listing of its securities on a U.S. national securities
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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
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Except as otherwise required by applicable law, we disclaim any
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version on businesswire.com: https://www.businesswire.com/news/home/20240321815251/en/
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 Manager: Corporate Communications
david.petrie@lifezonemetals.com Tanzania Media Enquiries
Mariagoreth Charles Tembo Nickel Corporate Communications Manager
Mariagoreth.Charles@kabanganickel.com
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