Strategic Partnership to Secure Cleaner Nickel,
Copper and Cobalt from the Kabanga Nickel Project for the Japanese
Battery Industry
Lifezone Metals Limited’s (NYSE: LZM) Chief Executive
Officer, Chris Showalter, is pleased to announce the signing of a
Memorandum of Understanding (MOU) with Japan Organization for
Metals and Energy Security (JOGMEC). This strategic partnership
aims to support JOGMEC’s efforts to secure cleaner metals from the
Kabanga Nickel Project for the Japanese battery industry.
Kabanga is one of the world’s largest and highest-grade
undeveloped nickel sulfide deposits with byproduct copper and
cobalt. By utilizing Lifezone’s Hydromet technology, the Project is
expected to significantly reduce emissions compared to traditional
smelting methods.
Mr. Showalter stated: “Kabanga is a world-class, high-grade
nickel deposit and we welcome the opportunity to bring on JOGMEC as
a strategically aligned partner. With BHP as our project
development partner, Societe Generale as our Lead Financial Advisor
for the project financing process, the support of the U.S.
International Development Finance Corporation and the Government of
Tanzania, and now strategic cooperation with JOGMEC – a Japanese
government independent administrative agency for energy and metals,
we see a clear indication of intent to drive this globally
significant project forward to the benefit of all partners and
stakeholders.”
Under the terms of the MOU, Lifezone will collaborate with
JOGMEC to facilitate the supply of metals from Kabanga, through
Lifezone’s portion of marketing rights, for Japan’s growing battery
market, ensuring a sustainable and traceable metals value chain.
This initiative aligns with both Lifezone’s and JOGMEC’s commitment
to advancing responsible mining practices and supporting the global
transition to clean energy.
JOGMEC will consider providing financial support for Japanese
companies upon its submittal of an application for the Japanese
Governmental funding support program. This potential investment
underscores the importance of the Kabanga Nickel Project in meeting
the increasing demand of Japanese industry for cleaner metals.
The MOU is non-binding and imposes no obligations on either
party.
JOGMEC is an independent administrative agency of the Japanese
government whose mission is to secure a stable and affordable
supply of energy and mineral resources to strengthen Japan’s
industrial base.
Japan is a partner in the Minerals Security Partnership (MSP),
which 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).
Both JOGMEC and the U.S. International Development Finance
Corporation (DFC) are members of the recently announced MSP Finance
Network, and the Kabanga Nickel Project has been recognized as a
MSP Project.
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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.
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.
www.lifezonemetals.com
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version on businesswire.com: https://www.businesswire.com/news/home/20241003065188/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
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