Lifezone Metals Secures Full Ownership of Kabanga Nickel Project
Deal News | Jul 22, 2025 | Travers Smith
Lifezone Metals has acquired the remaining 17% equity interest in the Kabanga Nickel Project from BHP, resulting in full ownership of Kabanga Nickel Limited (KNL), the entity that holds the majority stake in the Tanzanian-based Tembo Nickel Corporation Limited (TNCL). The acquisition was advised by Travers Smith, with a team led by Corporate Partner Tom Coulter. This strategic move strengthens Lifezone's position in the global battery metals markets, leveraging its significant nickel sulfide deposit in Tanzania and proprietary Hydromet Technology for cleaner production processes. Furthermore, the acquisition aligns with Lifezone's mission to optimize in-country beneficiation and sustainability in metals production. This transaction builds on previous support from Travers Smith, including Lifezone's deSPAC merger with GoGreen Investments, leading to its New York Stock Exchange listing.
Sectors
- Metals and Mining
- Legal Advisory
- Sustainability
Geography
- Tanzania – Tanzania is the location of the Kabanga Nickel Project and Tembo Nickel Corporation Limited, making it central to the transaction.
- United Kingdom – Travers Smith, the legal advisor in the transaction, is based in the United Kingdom.
Industry
- Metals and Mining – The article centers around Lifezone Metals and its acquisition related to the Kabanga Nickel Project, a significant endeavor in the mining and metals industry, particularly nickel production.
- Legal Advisory – Travers Smith's role in advising Lifezone Metals on the acquisition denotes the importance of legal expertise in facilitating complex transactions in the mining sector.
- Sustainability – Lifezone Metals' commitment to cleaner and more responsible metals production through its Hydromet Technology highlights a focus on sustainable practices within the industry.
Financials
- 17% – The equity interest in Kabanga Nickel Limited acquired by Lifezone Metals from BHP.
- 84% – The interest that Kabanga Nickel Limited holds in Tembo Nickel Corporation Limited after the acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Lifezone Metals | Target Company | Company | Responsible for the acquisition and development of the Kabanga Nickel Project to enhance sustainable nickel production. |
| BHP | Selling Company | Company | Previously held a 17% interest in Kabanga Nickel Limited, which was acquired by Lifezone Metals. |
| Travers Smith | Legal Advisor | Company | Provided legal advisory services to Lifezone Metals for the transaction. |
| Tembo Nickel Corporation Limited (TNCL) | Operating Company | Company | The Tanzanian operating company of the Kabanga Nickel Project, partially owned by Lifezone Metals. |
| Government of Tanzania | Stakeholder | Government | Holds a 16% interest in Tembo Nickel Corporation Limited. |
| GoGreen Investments | Investment Company | Company | Part of Lifezone Metals' previous deSPAC merger, leading to its NYSE listing. |