Lifezone Metals Secures Full Ownership of Kabanga Nickel Project
Deal News | Jul 22, 2025 | Travers Smith LLP
Travers Smith LLP has advised Lifezone Metals in the acquisition of BHP's 17% equity interest in Kabanga Nickel Project, resulting in Lifezone owning 100% of KNL, which in turn controls an 84% interest in Tembo Nickel Corporation Limited (TNCL). TNCL is the Tanzanian operating entity for the Kabanga Nickel Project, leaving the remaining 16% in the hands of the Tanzanian government. Lifezone Metals is dedicated to producing cleaner metals, and this project aligns with its goals of innovating through Hydromet Technology to bolster nickel, copper, and cobalt supplies for the global battery markets. Travers Smith's team was led by Tom Coulter, with additional support from Fabian McNeilly and Sara Grey-Elsharif, alongside specialized input from John Buttanshaw, Madeline Gowlett, and Ross McGregor. This deal is part of Lifezone's continued growth, following their deSPAC merger with GoGreen Investments and their listing on the NYSE.
Sectors
- Mining
- Metals & Mining Technology
- Renewable Energy Materials
- Legal Services
Geography
- Tanzania – The Kabanga Nickel Project is situated in Tanzania, making it central to the geographic focus of the transaction.
- United Kingdom – Travers Smith LLP, the advising law firm, is based in the United Kingdom.
- United States – Lifezone Metals is listed on the New York Stock Exchange, implicating a U.S. financial market relationship.
Industry
- Mining – The acquisition relates to nickel mining, specifically the Kabanga Nickel Project in Tanzania, which is significant due to the high-grade nickel sulfide deposits.
- Metals & Mining Technology – Lifezone Metals is involved in developing and applying Hydromet Technology for cleaner metals production and recycling, relevant to innovation in this sector.
- Renewable Energy Materials – The project supports the supply of critical minerals like nickel, copper, and cobalt important for global battery production, aligning with renewable energy material needs.
- Legal Services – Travers Smith LLP provided legal advisory services for the acquisition, illustrating the role of law firms in facilitating significant mining transactions.
Financials
- 17% – The equity interest acquired by Lifezone Metals from BHP in the Kabanga Nickel Project.
- 84% – Percentage of Tembo Nickel Corporation Limited controlled by Lifezone Metals via the Kabanga Nickel Project.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Lifezone Metals | Target company | Company | A metals production and recycling company focusing on cleaner technologies, now fully owning the Kabanga Nickel Project. |
| BHP | Selling Company | Company | A leading global resources company, which held a minority stake in the Kabanga Nickel Project. |
| Travers Smith LLP | Legal Advisor | Company | A UK-based law firm advising on the transaction, leading the legal aspects of the acquisition. |
| Government of Tanzania | Stakeholder | Government | Holds a 16% interest in Tembo Nickel Corporation Limited, associating with the Kabanga Nickel Project. |
| Tom Coulter | Lead Partner | Person | Leading the team at Travers Smith LLP for this transaction. |
| Fabian McNeilly | Senior Associate | Person | Part of the legal team providing support in the transaction. |
| Sara Grey-Elsharif | Associate | Person | Provided legal assistance as part of Travers Smith's advisory role. |
| John Buttanshaw | Co-Head of ESG & Impact | Person | Specialist advisor on Environmental, Social, and Governance matters in the transaction. |
| Madeline Gowlett | Tax Partner | Person | Provided tax expertise for the transaction. |
| Ross McGregor | Tax Associate | Person | Assisted with tax-related aspects of the transaction. |
| GoGreen Investments | SPAC | Company | Involved in the earlier deSPAC merger with Lifezone Metals. |