Lifezone Metals Limited’s CEO, Chris Showalter, recently announced a notable financial development for the company. Its wholly-owned subsidiary, Kabanga Nickel Limited, has successfully secured a significant bridge loan facility agreement worth $60 million with Taurus Mining Finance Fund No. 2, L.P. Taurus is recognized as a prominent global provider of structured finance tailored explicitly for the mining sector, making this partnership notable for Lifezone.
The approval to proceed with the first drawdown of funds comes after Lifezone met all necessary conditions. This initial financing will play a crucial role in advancing the Kabanga Nickel Project, located in the northwest region of Tanzania. The funding is earmarked for essential early works and infrastructure development, which are crucial for the project’s progress. Additionally, these resources will accelerate the project finance process that follows the anticipated release of a comprehensive feasibility study on July 18, 2025, as highlighted in a previous news release from Lifezone.
On August 29, 2025, Lifezone officially received the first tranche of $20 million from Taurus under this bridge loan. This marks a significant milestone in the company’s financial journey. It’s worth noting that future disbursements will be contingent upon the continued performance of the project and the achievement of specific, agreed-upon milestones. Each future drawdown is structured to cover up to three months of capital and operating expenses, ensuring a steady flow of resources as the project develops.
This first drawdown effectively concludes the short-term financing process that was initially announced on July 18, 2025. To help facilitate this funding, Lifezone sought the expertise of Standard Chartered Bank, engaging them not only as a financial advisor for the short-term funding but also for their strategic financial advice throughout the process.
As Lifezone Metals moves forward, it continues to explore various avenues for multi-source project financing, with the debt team at Societe Generale leading the charge for the Kabanga Nickel Project, which has garnered attention as a world-class endeavor. In tandem with this, the company is actively engaged in discussions with multiple major counterparties and financial investors. These conversations focus on potential long-term partnerships and equity investments that could further enhance the project’s viability and success.
Interestingly, as part of this strategic evaluation, Lifezone has received several non-binding offers concerning a potential transaction involving the Kabanga Nickel Project. The investment committee at Lifezone, alongside the advisory support from Standard Chartered, is closely overseeing this process. They aim to carefully evaluate the various strategic alternatives presented and assess the offers that have been submitted.
Throughout this journey, the company remains deeply committed to exploring all available strategic options that align with the best interests of its stakeholders. This includes considering the possibility of change of control transactions at the asset level, a step that could potentially reshape the project’s future. However, it is essential to understand that, as of now, no agreements have been reached with any third party.
Lifezone is under no obligation to pursue any transaction at this stage, and there is no guarantee that the strategic investment process will culminate in a successful agreement. The company is diligently navigating this complex landscape, keeping its options open while prioritizing the welfare of all its stakeholders.
