BHP Exits $2.5bn Tanzania Nickel Project, Says Partner Lifezone

BHP exits $2.5bn Tanzania nickel project, says partner Lifezone

BHP Group has opted to sell its interest in the $2.5bn (R44.33bn) Kabanga nickel project in Tanzania to its partner Lifezone Metals for $83m (R1.47bn), Lifezone said.

Lifezone Metals Ltd. (NYSE:LZM) - Consolidating Control of Kabanga; FS and Reserves De-Risk Project - Research Portal

Lifezone announced that it has consolidated control of its flagship Kabanga Ni-Cu-Co project in Tanzania. A definitive agreement with BHP (ASX:BHP, Not Rated) outlines the acquisition of BHP’s 17% equity interest in Kabanga Nickel Limited (KNL; the majority owner of Kabanga) via deferred consideration. Kabanga’s ownership structure is now 84% Lifezone / 16% Government of Tanzania. All other agreements with BHP, including the T2 Option Agreement,

Lifezone Metals acquires BHP's stake in Tanzania nickel project

Lifezone Metals has finalised a definitive agreement with BHP Billiton (UK) DDS to acquire its 17% equity interest in Kabanga Nickel Limited.The post Lifezone Metals acquires BHP’s stake in Tanzania nickel project appeared first on Mining Technology.