Kabanga project
The Kabanga Nickel Project in North-West Tanzania was acquired by Lifezone in 2021.
Kabanga will be a mine-to-metal mining operation producing battery-grade nickel, copper and cobalt. Lifezone Metals believes that the Kabanga Project comprises one of the world’s largest and highest grade nickel sulfide deposits1
Kabanga Mineral Resource estimate as of 15 February 2023 as attributable to Lifezone of 25.8 Mt (Measured and Indicated resources) at 2.63% Ni, 0.35% Cu and 0.2% Co and additional 14.6 Mt (Inferred resources) at 2.57% Ni, 0.34% Cu and 0.18% Co each with a recovery percentage of 87.2% for Ni, 85.1% for Cu and 88.1% for Co.2, 3, 4, 5, 6, 7, 8
The intention is to produce battery-grade metals for sale to automotive OEMs and battery manufacturers.
1 – Based on analysis of the largest undeveloped nickel deposits from S&P Capital IQ Pro, as modified per public data on each mining project. The Kabanga Project’s resource metrics reflect the measured, indicated and inferred resources referred to in the Kabanga Mineral Resource Estimates as of 15 February 2023 from the TRS, available here.
2 – Kabanga Nickel Resource Estimates reported in the TRS with effective date 15 February 2023 available here.
3 – Mineral Resources are reported exclusive of Mineral Reserves. There are no Mineral Reserves to report.
4 – Mineral Resources are reported showing only the Lifezone Holdings Limited attributable tonnage portion, which is 69.713% of the total.
5 – Cut-off uses the NiEq23 using a nickel price of ($9.50/lb), copper price of ($4.00/lb), and cobalt price of ($26.00/lb) with allowances for recoveries, payability, deductions, transport, and royalties. NiEq23% = Ni% + Cu% x 0. 411 + Co% x 2.765.
6 – The point of reference for Mineral Resources is the point of feed into a processing facility.
7 – All Mineral Resources in the TRS were assessed for reasonable prospects for eventual economic extraction by reporting only material above a cut-off grade of 0.58% NiEq23.
8 – Totals may vary due to rounding.
Kabanga figures1, 2, 3, 4, 5, 6, 7
of exploration and appraisal drilling completed
average grade, amongst the highest grade nickel sulphide deposits in the world with cobalt and copper credits
Ni-equivalent metal content including cobalt and copper.
1 – Kabanga Nickel Resource Estimates reported in the TRS with effective date 15 February 2023 available here.
2 – Mineral Resources are reported exclusive of Mineral Reserves. There are no Mineral Reserves to report.
3 – Mineral Resources are reported showing only the Lifezone Holdings Limited attributable tonnage portion, which is 69.713% of the total.
4 – Cut-off uses the NiEq23 using a nickel price of ($9.50/lb), copper price of ($4.00/lb), and cobalt price of ($26.00/lb) with allowances for recoveries, payability, deductions, transport, and royalties. NiEq23% = Ni% + Cu% x 0. 411 + Co% x 2.765.
5 –The point of reference for Mineral Resources is the point of feed into a processing facility.
6 – All Mineral Resources in the TRS were assessed for reasonable prospects for eventual economic extraction by reporting only material above a cut-off grade of 0.58% NiEq23.
7 – Totals may vary due to rounding.
Next steps
More than $293 million spent by prior owners Glencore and Barrick to accurately delineate the ore body.
This enables our updated Feasibility Study to be produced on an accelerated timeframe.
On-license resource expansion drilling targets already identified.