Lifezone Says Cap on Consideration Payable to BHP in Tanzania Project Deal Reduced by $8 Million

MT newswire2026/10/07 11:11

07:11 AM EDT, 10/07/2026 (MT Newswires) -- Lifezone Metals (LZM) said Wednesday the cap on consideration payable to BHP (BHP) Billiton (UK) DDS in connection with its acquisition of a stake in the Kabanga nickel project in Tanzania has reduced by $8 million. The move follows an independent expert review confirming that the project's resettlement action plan has continued to be in "material alignment" with the International Finance Corp.'s Performance Standard 5, Lifezone said. Consideration payable to BHP consists of two deferred cash payments, including a fixed payment of $10 million and a contingent payment, according to Lifezone. The company agreed to acquire BHP's 17% equity interest in the Kabanga project in July 2025.

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