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Stock impact report

Lifezone Metals acquires BHP's stake in Tanzania nickel project [Yahoo! Finance]

Lifezone Metals Limited Ordinary Shares (LZM) 
Company Research Source: Yahoo! Finance
With this deal, Lifezone gains full ownership of KNL, which has an 84% stake in Tembo Nickel Corporation Limited (TNCL), the Tanzanian operating company for the project. The Government of Tanzania owns the remaining 16% of TNCL. Lifezone has also gained complete control of 100% of the offtake from the nickel project. Lifezone acquired the Kabanga project in 2021 and secured a licence to operate a multi-metal processing facility for nickel, copper and cobalt for the project in March last year. The deal terms include a $10m (£7.43m) fixed cash payment post-final investment decision (FID), a second deferred cash payment linked to Lifezone's share price after first commercial production, and a total consideration cap of $83m, reduced to $75m if independent verification via a Resettlement Action Plan Trigger Event occurs. BHP has agreed to a 12-month lock-up period on its Lifezone shares and must offer any intended share sales to Lifezone first. Lifezone CEO Chris Showalter sa Show less Read more
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