Travers Smith has advised long-standing client Lifezone Metals Limited (NYSE: LZM) on its acquisition of BHP’s 17% equity interest in Kabanga Nickel Limited (KNL), the majority owner of the Kabanga Nickel Project in northwestern Tanzania.
As a result of the transaction, Lifezone owns 100% of KNL, which in turn holds an 84% interest in Tembo Nickel Corporation Limited (TNCL), the Tanzanian operating company for the Kabanga Nickel Project. The remaining 16% of TNCL is held by the Government of Tanzania.
Lifezone Metals is committed to delivering cleaner and more responsible metals production and recycling. Its Kabanga Nickel Project in Tanzania is believed to be one of the world's largest and highest-grade undeveloped nickel sulfide deposits. By pairing it with its Hydromet Technology, it is working to unlock a new source of nickel, copper and cobalt for the global battery metals markets and to empower Tanzania to achieve in-country beneficiation.
The Travers Smith team on this transaction was led by our Corporate Partner Tom Coulter, supported by Senior Associate Fabian McNeilly and Associate Sara Grey-Elsharif. Specialist advice was provided by Co-Head of ESG & Impact John Buttanshaw, Tax Partner Madeline Gowlett and Tax Associate Ross McGregor.
This transaction follows the firm's earlier work including advising Lifezone Metals on its deSPAC combination with GoGreen Investments, which created the first pure-play nickel resource and cleaner technology company listed on the New York Stock Exchange.
