Lifezone Metals Completes Acquisition of BHP's Equity in Kabanga Nickel
Deal News | Jul 22, 2025 | Travers Smith
Travers Smith has successfully advised Lifezone Metals Limited on acquiring BHP's 17% equity stake in Kabanga Nickel Limited (KNL). This strategic acquisition means Lifezone now owns 100% of KNL, which holds the majority interest in the Kabanga Nickel Project situated in Tanzania. The transaction marks a significant milestone as Lifezone, committed to sustainable metals production, aims to leverage its Hydromet Technology to facilitate the global battery metals market by sourcing nickel, copper, and cobalt from this project. The deal also highlights Lifezone's dedication to fostering in-country beneficiation in Tanzania. Travers Smith’s corporate legal team was led by Tom Coulter and supported by various specialists, including ESG, Impact, and Tax experts.
Sectors
- Mining and Metals
- Legal Services
- Sustainable Technology
Geography
- Tanzania – The location of the Kabanga Nickel Project, which is central to the acquisition.
- United States – Lifezone Metals is listed on the New York Stock Exchange, indicating significant financial activity linked to the U.S.
- United Kingdom – Travers Smith, the advising law firm, is based in the UK.
Industry
- Mining and Metals – The acquisition involves nickel mining, which is a critical component of the mining and metals industry.
- Legal Services – The article highlights the role of Travers Smith, a law firm, in advising on the acquisition.
- Sustainable Technology – Lifezone Metals employs Hydromet Technology for cleaner metal production, aligning with sustainable technology practices.
Financials
- 17% – The equity interest in Kabanga Nickel Limited acquired by Lifezone Metals from BHP.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Lifezone Metals Limited | Target Company | Company | The company acquiring the 17% stake in Kabanga Nickel from BHP. |
| BHP | Selling Company | Company | Former equity holder of Kabanga Nickel Limited, selling its 17% stake to Lifezone Metals. |
| Travers Smith | Legal Advisor | Company | Law firm advising Lifezone Metals on the acquisition. |
| Kabanga Nickel Limited (KNL) | Investment Company | Company | Majority owner of the Kabanga Nickel Project. |
| Government of Tanzania | Other Company | Government | Holds a 16% stake in Tembo Nickel Corporation Limited. |