LifeZone Metals announced in a note published on Monday, August 11, that it had concluded a loan of $60 million (about 33.8 billion FCFA) from Taurus Mining Finance, a company specialized in the financing of mining projects.

The loan will allow the American mining company to finance the first construction of its Kabanga nickel project in Tanzania. We are talking about the development of the basic infrastructures of this future nickel mine. This capital should support the completion of the various stages of development until the final investment decision (FID) expected in mid-2026

It should also allow the development of a mining complex capable of delivering a total of 902,000 tons of nickel over a lifetime of 18 years. In parallel with the upcoming start of the initial work, Lifezone also intends to make progress in mobilizing this investment over the coming months