(Ecofin Agency) – In Tanzania, the first battery-grade nickel production plant will start supplying the international market by 2026. It will be supplied with ore by the Kabanga project, piloted by Lifezone Metals, which has just reached an important milestone. .
Lifezone Metals, a company active in Tanzania on the Kabanga nickel project, has entered the New York Stock Exchange. The company born of the merger between Lifezone Holdings and GoGreen Investments announced this IPO on Thursday, July 6.
According to the published details, the IPO follows as planned the completion of the merger, which is expected to create a company valued at approximately $1 billion with $361 million in cash. The transaction resulted in financial gains, including gross proceeds of $86.6 million.
This sum will be in addition to the $90 million investment announced by BHP Billiton in the Kabanga project, and an additional $10 million investment in Lifezone. “We are excited to continue our mission of creating long-term value for our shareholders in the public markets, by meeting the milestones we have set for ourselves to bring our flagship Kabanga project to commercialization. […] », commented the CEO of the company, Chris Showalter.
As a reminder, Kabanga will be behind the first battery-grade nickel production plant in Tanzania, a project that will be developed by Lifezone with the support of the local government. The first tons will arrive on the international market as early as 2026, according to remarks made by the Vice President of the United States, Kamala Harris, during her visit to the country last March.
Read also:
14/06/2023 – Tanzania: New CFO to Lead Lifezone Metals IPO
2023-07-07 16:03:00
#Tanzania #Kabanga #Nickel #Project #Owner #Lists #York #Stock #Exchange
