Lifezone Metals to go public through SPAC merger

Battery metallic producer Lifezone Metals has unveiled plans to checklist in New York, US, by means of a merger with clean cheque firm GoGreen Investments.

Lifezone signed an settlement to amass GoGreen to create the primary nickel useful resource and inexperienced know-how firm to be listed on the New York Inventory Trade (NYSE).

The mixed enterprise will function below the title, ‘Lifezone Metals’, and is predicted to have a professional forma fairness worth of almost $1bn.

Lifezone owns the deliberate Kabanga Nickel mine and refinery challenge in Tanzania.

Situated in North-West Tanzania, the challenge is claimed to host one of many world’s largest and highest-quality undeveloped nickel deposits.

It’s estimated to carry mineral assets of 44 million tonnes at a mean in-situ nickel grade of two.61%, plus 0.35% copper and 0.19% cobalt.

To use the $43bn Kabanga nickel deposit in Tanzania, Lifezone intends to make use of its hydrometallurgical (hydromet) processing know-how, which is designed to considerably cut back emissions, reported Bloomberg Information.

Lifezone stated its lower-impact hydrometallurgical processing know-how can eradicate carbon-intensive smelting from nickel manufacturing, in addition to removes dangerous sulfur dioxide emissions from the general course of.

In January 2022, BHP introduced an preliminary funding of $40m within the Kabanga nickel deposit for an 8.9% fairness curiosity within the Kabanga challenge, and a $10m fairness funding to advance Lifezone’s hydrometallurgical processing know-how.

Not too long ago, BHP agreed to an extra funding of $50m in Kabanga Nickel to extend its direct fairness stake to 17%.

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