In meeting growing demand for nickel, copper, and cobalt to support the clean energy transition, Lifezone’s large, quality resource, technology, and expertise will position the company for long-term growth as its products attract a “green premium”.

Estimates1 are that the battery market demand will increase by a compound annual growth rate of 24% by 2030 from 2020.

There is a huge supply-demand imbalance as the global car industry goes electric. Nickel demand is growing rapidly, and Lifezone is poised to become a major supply chain solution to a global challenge.

Our strategy is to invest in and secure world class deposits of metals and minerals essential for “greener” energy and GHG emissions reductions to combat global warming and climate change. –

Every element of our strategy is driven by the highest standards of ESG, and a commitment to sustainable value – from low energy processing technology, to creating shared value with Tanzania, to providing OEMS and other manufacturers with the assurance that our products support the growing trend and best practice of “responsible sourcing.”

1. Bespoke Nickel Market Outlook for Lifezone Limited, a product of Wood Mackenzie, August 2022.

The Lifezone technology was the precursor to where we are now. We have been able to secure and have the potential to unlock the world-class Kabanga project, and we are working on how our hydromet technology can be applied to metal recycling. We are technology developers, but we also view our purpose to be the whole of the metals value chain – hence we are a metals business.

Lifezone is a modern metals company, created to support the needs of the global energy transition.  Lifezone has been built with sustainability at its core, with a mission to supply the global battery metals market with world class Grade 1 nickel, copper and cobalt. A key differentiator for our business from most single asset mine owners, is that we will supply decarbonizing supply chains with metals to support battery production which are produced without smelting. This dramatically lowers the power requirement, reduces costs and slashes emission of carbon and sulphur dioxide. We will also transport far less material, further reducing carbon in the supply chain. We believe this represents a significant shift away from the established practices associated with legacy mining and metals production, and aligns our strategy and practices with the requirements of OEMS.

Wood Mackenzie projections show that 1.5 million tonnes of nickel is needed to bring supply to the projected requirement by 2050, according to Wood Mackenzie.

As the world is pressing ahead with plans to decarbonise, it is increasingly looking to more sustainable ways to satisfy today’s growing demand for energy.

Globally, car manufacturers are not investing in the next generation of combustion engines. That technology is over.

Once developed, Kabanga will develop final high-grade nickel and cobalt products, two of the key elements used in Electric Vehicle (EV) batteries, helping to meet today and tomorrow’s increasing demand for sustainable sources of energy.

Our non-smelting hydrometallurgical processing technology provides a unique opportunity to help meet the world’s accelerating demand for high-purity Class 1 nickel for EV battery production, while allowing us to minimise our physical and environmental footprint.

This really will be the mine of the future, producing greener and responsible battery metals to help the world transition to a low carbon economy.

By adopting the mine-to-metal model, our work will take place entirely in Tanzania. We will mine ore and produce a rich concentrate at Kabanga. This will then be transported to Kahama, where it will be processed further using our propriety green hydrometallurgical process to produce the finished metal ready to be used around the world.

Not only does this provide an equitable sharing of the full economic benefits, it also removes the need to ship ore concentrates overseas for beneficiation, resulting in an estimated 25,000 kilometres less transportation, further enhancing the environmental credentials of the Kabanga project.

New infrastructure that will support the project is currently under development such as roads, rail and power.

This innovative model allows us to focus on Tanzania, enhancing work with local stakeholders and incorporate newer technology and methodology into our operations here.

Hydromet technology has the potential to produce nickel concentrate far removed from the conventional, energy-intensive pyrometallurgical processing route of smelting and refining. Lifezone’s Hydromet technology uses pressure oxidation and solvent extraction-electrowinning to extract valuable metals, with no melting of the rock.

This process will eliminate the need to export concentrate long distances to European or Asian smelters and refineries, thus reducing capital and operating costs with significantly less environmental impact, while maximizing value and returns within Tanzania.

By applying hydrometallurgy technology to process the ores and produce final high-grade metals, we will bypass the traditional polluting smelting process, resulting in far less energy use and pollution. Hydrometallurgy is an aqueous processing technology that selectively targets the valuable metals in a concentrate for extraction at approximately 200°C, compared to smelting which heats up all the ore to over 1,600 degs C. The key benefits of this process are that it is cheaper, more environmentally friendly and can all be achieved at one site.

By adopting this method for the Kabanga nickel project, and operating solely within Tanzania, we expect to achieve up to 73% reduction in estimated CO2 eq. emissions and zero SO2 emissions1 at the Kahama refinery (compared to smelting).

Hydromet also eliminates exporting concentrate long distances to European, North American or Asian smelters and refineries for further processing, lowering carbon footprint. It means the final product will be lower cost, have a significantly reduced impact on the environment, while ensuring that more of the value created by the project will remain in Tanzania.

The Kabanga team have considerable hydrometallurgical experience in sub-Saharan Africa and are in the process of developing unique and proprietary technology to unlock the full potential of hydrometallurgy at this operation.

1. Nickel Class 1 downstream processing CO2 eq. emissions baseline from 2020 Nickel Institute LCA. Estimated Kabanga refinery expected emissions from internal Company analysis.

Our policies and high-level approach to sustainability are informed by the UN’s Sustainable Development Guidelines, the World Bank’s Climate Smart Mining standards and relevant elements of the International Council for Metals and Mining’s guidelines. These key benchmarks are being integrated into all decision-making and company structures.

Our alignment with these standards is informed by the needs of our customers and stakeholders. OEMs are already looking at the asset, and the standards they require will inform our ESG and production approach.

Responsible sourcing requires verification; we will ensure our products are traceable and ethically produced, via the Global Battery Alliance and the Global Battery Passport initiatives.

SASBI is a key tool informing our approach on reporting on our impacts as a global tool which US investors favour.

Through our partnership with the Tanzanian government, Lifezone will become a true Tanzanian champion. We will empower Tanzania to be the next premier source of Class 1 nickel. Lifezone will be a partner in the economic integration efforts of the East African Community, the Arusha-based regional intergovernmental organisation comprising some 177 million citizens from Burundi, Kenya, Rwanda, South Sudan, Tanzania and Uganda.

From an economic and social perspective, Kabanga Nickel will help position Tanzania to achieve the targets of the Agenda 2030, which prioritises inclusive social and economic development. Kabanga Nickel also seeks to achieve the UN Sustainable Development Goals by ensuring that significant value and flow-on benefits are retained within the country and promote wider regional economic transformation.