Lifezone Metals has announced the closure of a $60m (£44.75m) bridge loan facility with Taurus Mining Finance to support the advancement of its Kabanga Nickel Project in Tanzania.
The bridge loan from Taurus will fund critical early works and infrastructure for the project.
This follows the release of positive feasibility study results, accelerating the project finance process.
Lifezone Metals CEO Chris Showalter announced that the company’s fully owned subsidiary, Kabanga Nickel, finalised the bridge loan with Taurus Mining Finance Fund No. 2.
The initial $20m tranche was disbursed on 29 August 2025, with future funds contingent on achieving certain project milestones.
This follows an announcement in August regarding Lifezone Metals securing the bridge loan facility.
The loan incurs a yearly interest charge of 9.25% on the amounts utilised, repayable every three months, and includes both arrangement and commitment charges.
Lifezone Metals took ownership of the Kabanga Nickel Project in the north-western region of Tanzania in 2021.
The Kabanga project is set to be an integrated operation comprising mining to metal production. It will supply global markets with high-purity nickel, copper and cobalt suitable for battery manufacturing.
Lifezone Metals is actively pursuing multi-source financing, led by Société Générale's debt team, for the Kabanga Nickel Project.
The company is in advanced talks with potential partners and investors to secure long-term financial support for the project's progression.
Additionally, the company has received several non-binding offers for potential transactions involving the Kabanga Nickel Project.
Standard Chartered Bank, acting as a financial advisor, is assisting Lifezone Metals in evaluating these strategic alternatives and offers.
While Lifezone Metals has not yet finalised any agreements, the strategic investment process is ongoing.
There is no certainty that these discussions will result in a transaction, as the company is not obligated to proceed with any offers currently on the table.
