While revealing key details of its upcoming feasibility study, the company also secured BHP Group’s remaining 17% share, securing complete ownership of Kabanga Nickel.

The feasibility study summary for the Kabanga Project highlights an 18-year mine life, with total ore production estimated at 52.2Mt, containing 902kt Ni, 134kt Cu, and 69kt Co. The project is expected to maintain low all-in sustaining costs, averaging US$3.36/lb Ni-in-concentrate, net of copper and cobalt by-product credits. 

Located in the Ngara District near Lake Victoria, Tanzania, Kabanga is an underground mine project development based on sulphide ore operated by Tembo Nickel Corporation Limited (TNCL). Kabanga Nickel holds an 84% stake in TNCL, while the Government of Tanzania owns the remaining 16%. On 18 July 2025, Lifezone Metals acquired the remaining 17% stake in Kabanga Nickel from BHP, becoming the sole operator of the project through its Tembo Nickel subsidiary. 

The feasibility study summary anticipates a two-year construction phase, followed by a four-year ramp-up to full production capacity for both the mine and concentrator. Once operational, Kabanga is positioned to become a key source of non-Chinese, non-Indonesian supply of nickel and cobalt, and to a lesser extent, copper. 

Since 2022, Indonesia has accounted for over 50% of global mined nickel ore supply, primarily from its abundant saprolite reserves. Following Indonesia’s ore export ban, all nickel ore must now be processed domestically—most of it by Chinese-owned smelters. This has contributed to sustained downward pressure on global nickel prices, making it increasingly difficult for higher-cost producers, particularly in Australia, to remain competitive.

Furthermore, Indonesia’s dominance has led to a shrinking pool of IRA-compliant material available to Western markets. In this context, the Kabanga Project presents a strategic opportunity to ease the supply constraints for non-Chinese, non-Indonesian nickel, offering a potential new source of responsibly sourced material for Western supply chains.