Government of Tanzania

Tembo Nickel Corporation Limited is an operating company formed pursuant to a Framework Agreement between Kabanga Nickel Limited and the Government of Tanzania for the purposes of developing the Kabanga Nickel Project.

Under the Agreement, Tembo (owned 84% by Kabanga Nickel Limited and 16% by the Government of Tanzania) was established to mine, process and refine Class 1 nickel with cobalt and copper byproducts.

“Tembo” is the Swahili word for elephant and represents strength, community and longevity. This aligns with the Company’s vision of creating a shared value between the people of Tanzania and Lifezone, and empowering Tanzania to become a leading international supplier of more sustainable and cleaner battery metals.

Tembo Ownership

84%

Owned by Kabanga Nickel Limited

16%

Owned by the Government of Tanzania

BHP

BHP, the world’s largest mining companies by market capitalization, is a partner and investor in the Kabanga Nickel Project.

To date, BHP has invested a total of $100 million, which includes $10 million into our Hydromet Technology and $90 million into the Kabanga Nickel Project .

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