Lifezone Metals Advances Kabanga Nickel Project Toward 2026 Final Investment Decision

Core Insights - Lifezone Metals Limited is making significant progress on the Kabanga Nickel Project, aiming for a Final Investment Decision (FID) in 2026 [1][2] - The project is recognized as one of the largest and highest-grade nickel sulfide deposits globally, with a robust feasibility study completed in July 2025 [2][4] - The company has successfully raised $75 million in capital to fund pre-FID activities, demonstrating strong financial backing [2][4] Project Development - Early works are underway, including geotechnical drilling and site preparation, to support final designs [4][5] - The project has reported zero health, safety, environmental, or security incidents in the second half of 2025 [4] - Infrastructure coordination is ongoing with local power and logistics providers, ensuring reliable support for the project [4][10] Environmental and Social Governance - Lifezone's local subsidiary, Tembo Nickel, received a Compliance Excellence Award for environmental and regulatory performance [4][11] - Cash compensation payments have been completed for 97% of Project Affected Households, aligning with IFC Performance Standards [4][10] - The Kabanga Environmental and Social Management Plan is awaiting approval, with a focus on community well-being and livelihood restoration [4][10] Financial Strategy - Lifezone is advancing a multi-track financing strategy, engaging with strategic and financial investors for potential project-level investments [6][10] - The bankability review of the Kabanga Feasibility Study has been completed, indicating strong debt capacity due to the project's high-grade nature [10] - The targeted FID for the Kabanga Nickel Project is set for mid-2026, with financial close of a multi-source funding package anticipated [9][10] Economic Impact - The Kabanga Nickel Project is positioned to become a first-quartile cost producer with an All-In Sustaining Cost (AISC) of $3.36 per pound of nickel [7] - The after-tax Net Present Value (NPV) is estimated at $1.58 billion, with an Internal Rate of Return (IRR) of 23.3% [7] - The project is expected to significantly contribute to Tanzania's economy and the global supply of critical nickel metal [4][10]