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Lifezone Metals and Japan Organization for Metals and Energy Security (JOGMEC) Sign Memorandum of Understanding

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Lifezone Metals (NYSE: LZM) has signed a Memorandum of Understanding (MOU) with Japan Organization for Metals and Energy Security (JOGMEC) to secure cleaner nickel, copper, and cobalt from the Kabanga Nickel Project for the Japanese battery industry. The Kabanga project, one of the world's largest undeveloped nickel sulfide deposits, will use Lifezone's Hydromet technology to reduce emissions compared to traditional smelting methods.

Key points:

  • Lifezone will collaborate with JOGMEC to supply metals from Kabanga for Japan's battery market
  • JOGMEC will consider providing financial support for Japanese companies
  • The MOU is non-binding and imposes no obligations on either party
  • Kabanga Nickel Project has been recognized as a Minerals Security Partnership (MSP) Project

This partnership aligns with both companies' commitment to responsible mining and supporting the transition to clean energy.

Lifezone Metals (NYSE: LZM) ha firmato un Memorandum of Understanding (MOU) con l'Organizzazione Giapponese per la Sicurezza dei Metalli e dell'Energia (JOGMEC) per garantire nickel, rame e cobalto più puliti dal Progetto Kabanga Nickel per l'industria delle batterie giapponese. Il progetto Kabanga, uno dei più grandi giacimenti di solfuri di nickel non sviluppati al mondo, utilizzerà la tecnologia Hydromet di Lifezone per ridurre le emissioni rispetto ai metodi tradizionali di fusione.

Punti chiave:

  • Lifezone collaborerà con JOGMEC per fornire metalli dal Kabanga per il mercato delle batterie giapponesi
  • JOGMEC prenderà in considerazione la fornitura di supporto finanziario per le aziende giapponesi
  • Il MOU è non vincolante e non impone obblighi a nessuna delle parti
  • Il Progetto Kabanga Nickel è stato riconosciuto come un Progetto di Partnership per la Sicurezza Mineraria (MSP)

Questa partnership è in linea con l'impegno di entrambe le aziende per un'estrazione responsabile e il supporto alla transizione verso l'energia pulita.

Lifezone Metals (NYSE: LZM) ha firmado un Memorando de Entendimiento (MOU) con la Organización Japonesa para la Seguridad de Metales y Energía (JOGMEC) para asegurar níquel, cobre y cobalto más limpio del Proyecto Kabanga Nickel para la industria de baterías japonesa. El proyecto Kabanga, uno de los depósitos de sulfuro de níquel no desarrollados más grandes del mundo, utilizará la tecnología Hydromet de Lifezone para reducir las emisiones en comparación con los métodos tradicionales de fusión.

Puntos clave:

  • Lifezone colaborará con JOGMEC para suministrar metales de Kabanga para el mercado de baterías de Japón
  • JOGMEC considerará proporcionar apoyo financiero a empresas japonesas
  • El MOU no es vinculante y no impone obligaciones a ninguna de las partes
  • El Proyecto Kabanga Nickel ha sido reconocido como un Proyecto de Asociación para la Seguridad de Minerales (MSP)

Esta asociación se alinea con el compromiso de ambas empresas hacia una minería responsable y el apoyo a la transición hacia la energía limpia.

라이프존 메탈스 (NYSE: LZM)는 일본 금속 및 에너지 안전 기구 (JOGMEC)와 양해각서 (MOU)를 체결했습니다. Kabanga 니켈 프로젝트로부터 일본 배터리 산업을 위한 더 깨끗한 니켈, 구리 및 코발트를 확보하기 위한 것입니다. Kabanga 프로젝트는 세계에서 가장 큰 미개발 니켈 황화물 매장지 중 하나이며, 라이프존의 하이드로메트 기술을 사용하여 전통적인 제련 방법에 비해 배출량을 줄일 것입니다.

주요 포인트:

  • 라이프존은 일본 배터리 시장을 위해 Kabanga에서 금속을 공급하기 위해 JOGMEC와 협력할 것입니다
  • JOGMEC는 일본 기업에 대한 재정 지원 제공을 고려할 것입니다
  • MOU는 구속력이 없으며 어느 당사자에게도 의무를 부과하지 않습니다
  • Kabanga 니켈 프로젝트는 광물 안보 파트너십 (MSP) 프로젝트로 인정받았습니다

이 파트너십은 책임 있는 채굴과 깨끗한 에너지로의 전환을 지원하려는 두 회사의 약속과 일치합니다.

Lifezone Metals (NYSE: LZM) a signé un Mémorandum d'Entente (MOU) avec l'Organisation Japonaise pour la Sécurité des Métaux et de l'Énergie (JOGMEC) afin de sécuriser du nickel, du cuivre et du cobalt plus propres provenant du Projet Nickel Kabanga pour l'industrie des batteries japonaise. Le projet Kabanga, l'un des plus grands gisements de sulfure de nickel non développés au monde, utilisera la technologie Hydromet de Lifezone pour réduire les émissions par rapport aux méthodes traditionnelles de fusion.

Points clés :

  • Lifezone collaborera avec JOGMEC pour fournir des métaux du Kabanga pour le marché des batteries japonaises
  • JOGMEC envisagera de fournir un soutien financier aux entreprises japonaises
  • Le MOU n'est pas contraignant et n'impose pas d'obligations aux deux parties
  • Le Projet Nickel Kabanga a été reconnu comme un Projet de Partenariat pour la Sécurité des Minéraux (MSP)

Ce partenariat s'aligne sur l'engagement des deux entreprises envers une exploitation minière responsable et le soutien à la transition vers une énergie propre.

Lifezone Metals (NYSE: LZM) hat ein Memorandum of Understanding (MOU) mit der Japan Organization for Metals and Energy Security (JOGMEC) unterzeichnet, um saubereren Nickel, Kupfer und Kobalt aus dem Kabanga-Nickelprojekt für die japanische Batteriewirtschaft zu sichern. Das Kabanga-Projekt, eines der größten unerschlossenen Nickelsulfidlagerstätten der Welt, wird die Hydromet-Technologie von Lifezone nutzen, um die Emissionen im Vergleich zu traditionellen Schmelzverfahren zu reduzieren.

Wichtige Punkte:

  • Lifezone wird mit JOGMEC zusammenarbeiten, um Metalle aus Kabanga für den japanischen Batteriemarkt zu liefern
  • JOGMEC wird in Erwägung ziehen, finanzielle Unterstützung für japanische Unternehmen bereitzustellen
  • Das MOU ist nicht verbindlich und verpflichtet keine der Parteien
  • Das Kabanga Nickelprojekt wurde als Mineral Security Partnership (MSP) Projekt anerkannt

Diese Partnerschaft steht im Einklang mit dem Engagement beider Unternehmen für verantwortungsvolles Mining und die Unterstützung des Übergangs zu sauberer Energie.

Positive
  • Strategic partnership with JOGMEC to secure cleaner metals supply for Japanese battery industry
  • Potential financial support from JOGMEC for Japanese companies involved in the project
  • Recognition of Kabanga Nickel Project as a Minerals Security Partnership (MSP) Project
  • Use of Hydromet technology expected to significantly reduce emissions compared to traditional smelting methods
Negative
  • MOU is non-binding and imposes no obligations on either party

Insights

The MOU between Lifezone Metals and JOGMEC represents a significant strategic move for both parties. While non-binding, it signals strong interest from a major Japanese government agency in Lifezone's Kabanga Nickel Project. This partnership could potentially secure a stable market for Lifezone's future nickel, copper and cobalt production, which is important for project economics.

The involvement of JOGMEC, alongside existing partnerships with BHP and support from the U.S. DFC, enhances Lifezone's credibility and could facilitate easier access to project financing. The potential for JOGMEC to provide financial support to Japanese companies interested in Kabanga's output is particularly noteworthy, as it could lead to long-term offtake agreements.

However, investors should note that the MOU is non-binding and does not guarantee future contracts or investments. The project's success still depends on various factors, including successful development, production costs and metal prices. While this news is positive for Lifezone's long-term prospects, it may not have an immediate impact on the company's financials or stock price.

The Kabanga Nickel Project's significance in the global nickel market cannot be overstated. As one of the world's largest undeveloped nickel sulfide deposits, it has the potential to become a major supplier of high-grade nickel, which is important for the electric vehicle battery industry.

Lifezone's Hydromet technology is a key differentiator, promising to reduce emissions compared to traditional smelting methods. This aligns well with the increasing demand for responsibly sourced materials in the battery supply chain. The project's recognition as an MSP Project further underscores its strategic importance in diversifying global critical mineral supply chains.

The partnership with JOGMEC could provide Lifezone with a competitive advantage in accessing the Japanese battery market, which is significant given Japan's strong position in the automotive and electronics industries. However, the project still faces challenges typical of large-scale mining developments, including potential delays, cost overruns and regulatory hurdles. Investors should monitor progress on project milestones and any binding agreements that may follow this MOU.

Strategic Partnership to Secure Cleaner Nickel, Copper and Cobalt from the Kabanga Nickel Project for the Japanese Battery Industry

NEW YORK--(BUSINESS WIRE)-- Lifezone Metals Limited’s (NYSE: LZM) Chief Executive Officer, Chris Showalter, is pleased to announce the signing of a Memorandum of Understanding (MOU) with Japan Organization for Metals and Energy Security (JOGMEC). This strategic partnership aims to support JOGMEC’s efforts to secure cleaner metals from the Kabanga Nickel Project for the Japanese battery industry.

Kabanga is one of the world’s largest and highest-grade undeveloped nickel sulfide deposits with byproduct copper and cobalt. By utilizing Lifezone’s Hydromet technology, the Project is expected to significantly reduce emissions compared to traditional smelting methods.

Mr. Showalter stated: “Kabanga is a world-class, high-grade nickel deposit and we welcome the opportunity to bring on JOGMEC as a strategically aligned partner. With BHP as our project development partner, Societe Generale as our Lead Financial Advisor for the project financing process, the support of the U.S. International Development Finance Corporation and the Government of Tanzania, and now strategic cooperation with JOGMEC – a Japanese government independent administrative agency for energy and metals, we see a clear indication of intent to drive this globally significant project forward to the benefit of all partners and stakeholders.”

Under the terms of the MOU, Lifezone will collaborate with JOGMEC to facilitate the supply of metals from Kabanga, through Lifezone’s portion of marketing rights, for Japan’s growing battery market, ensuring a sustainable and traceable metals value chain. This initiative aligns with both Lifezone’s and JOGMEC’s commitment to advancing responsible mining practices and supporting the global transition to clean energy.

JOGMEC will consider providing financial support for Japanese companies upon its submittal of an application for the Japanese Governmental funding support program. This potential investment underscores the importance of the Kabanga Nickel Project in meeting the increasing demand of Japanese industry for cleaner metals.

The MOU is non-binding and imposes no obligations on either party.

JOGMEC is an independent administrative agency of the Japanese government whose mission is to secure a stable and affordable supply of energy and mineral resources to strengthen Japan’s industrial base.

Japan is a partner in the Minerals Security Partnership (MSP), which aims to accelerate the development of diverse and sustainable critical energy minerals supply chains through working with host governments and industry to facilitate targeted financial and diplomatic support for strategic projects along the value chain. MSP partners include Australia, Canada, Estonia, Finland, France, Germany, India, Italy, Japan, Norway, the Republic of Korea, Sweden, the United Kingdom, the United States, and the European Union (represented by the European Commission).

Both JOGMEC and the U.S. International Development Finance Corporation (DFC) are members of the recently announced MSP Finance Network, and the Kabanga Nickel Project has been recognized as a MSP Project.

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About Lifezone Metals

At Lifezone Metals (NYSE: LZM), our mission is to provide cleaner and more responsible metals production and recycling. Using a scalable platform underpinned by our Hydromet Technology, we offer the potential for lower energy consumption, lower emissions and lower cost metals production compared to traditional smelting.

Our Kabanga Nickel Project in Tanzania is believed to be one of the world's largest and highest-grade undeveloped nickel sulfide deposits. By pairing with our Hydromet Technology, we are working to unlock a new source of LME-grade nickel, copper and cobalt for the global battery metals markets, to empower Tanzania to achieve full in-country value creation and become the next premier source of Class 1 nickel.

Through our US-based, platinum, palladium and rhodium recycling partnership, we are working to demonstrate that our Hydromet Technology can process and recover platinum group metals from responsibly sourced spent automotive catalytic converters in a cleaner and more efficient way than conventional smelting and refining methods.

www.lifezonemetals.com

Forward-Looking Statements

Certain statements made herein are not historical facts but may be considered “forward-looking statements” within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended and the “safe harbor” provisions under the Private Securities Litigation Reform Act of 1995 regarding, amongst other things, the plans, strategies, intentions and prospects, both business and financial, of Lifezone Metals Limited and its subsidiaries.

Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, and any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” or the negatives of these terms or variations of them or similar terminology or expressions that predict or indicate future events or trends or that are not statements of historical matters; provided that the absence of these does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding future events, the estimated or anticipated future results of Lifezone Metals, future opportunities for Lifezone Metals, including the efficacy of Lifezone Metals’ hydrometallurgical technology (Hydromet Technology) and the development of, and processing of mineral resources at, the Kabanga Project, and other statements that are not historical facts.

These statements are based on the current expectations of Lifezone Metals’ management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Lifezone Metals and its subsidiaries. These statements are subject to a number of risks and uncertainties regarding Lifezone Metals’ business, and actual results may differ materially. These risks and uncertainties include, but are not limited to: general economic, political and business conditions, including but not limited to the economic and operational disruptions; global inflation and cost increases for materials and services; reliability of sampling; success of any pilot work; capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; changes in government regulations, legislation and rates of taxation; inflation; changes in exchange rates and the availability of foreign exchange; fluctuations in commodity prices; delays in the development of projects and other factors; the outcome of any legal proceedings that may be instituted against the Lifezone Metals; our ability to obtain additional capital, including use of the debt market, future capital requirements and sources and uses of cash; the risks related to the rollout of Lifezone Metals’ business, the efficacy of the Hydromet Technology, and the timing of expected business milestones; the acquisition of, maintenance of and protection of intellectual property; Lifezone’s ability to achieve projections and anticipate uncertainties (including economic or geopolitical uncertainties) relating to our business, operations and financial performance, including: expectations with respect to financial and business performance, financial projections and business metrics and any underlying assumptions; expectations regarding product and technology development and pipeline and market size; expectations regarding product and technology development and pipeline; the effects of competition on Lifezone Metals’ business; the ability of Lifezone Metals to execute its growth strategy, manage growth profitably and retain its key employees; the ability of Lifezone Metals to reach and maintain profitability; enhancing future operating and financial results; complying with laws and regulations applicable to Lifezone Metals’ business; Lifezone Metals’ ability to continue to comply with applicable listing standards of the NYSE; the ability of Lifezone Metals to maintain the listing of its securities on a U.S. national securities exchange; our ability to comply with applicable laws and regulations; stay abreast of accounting standards, or modified or new laws and regulations applying to our business, including privacy regulation; and other risks that will be detailed from time to time in filings with the U.S. Securities and Exchange Commission (SEC).

The foregoing list of risk factors is not exhaustive. There may be additional risks that Lifezone Metals presently does not know or that Lifezone Metals currently believes are immaterial that could also cause actual results to differ from those contained in forward-looking statements. In addition, forward-looking statements provide Lifezone Metals’ expectations, plans or forecasts of future events and views as of the date of this communication. Lifezone Metals anticipates that subsequent events and developments will cause Lifezone Metals’ assessments to change.

These forward-looking statements should not be relied upon as representing Lifezone Metals’ assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements. Nothing herein should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results in such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this communication, which are based upon information available to us as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. In all cases where historical performance is presented, please note that past performance is not a credible indicator of future results.

Except as otherwise required by applicable law, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data, or methods, future events, or other changes after the date of this communication.

Investor Relations – North America

Evan Young

SVP: Investor Relations & Capital Markets

evan.young@lifezonemetals.com

Investor Relations – Europe

Ingo Hofmaier

Chief Financial Officer

ingo.hofmaier@lifezonemetals.com

Media Enquiries

David Petrie

Manager: Corporate Communications

david.petrie@lifezonemetals.com

Source: Lifezone Metals

FAQ

What is the purpose of the MOU between Lifezone Metals (LZM) and JOGMEC?

The MOU aims to secure cleaner nickel, copper, and cobalt from the Kabanga Nickel Project for the Japanese battery industry, facilitating a sustainable and traceable metals value chain.

How will Lifezone Metals (LZM) reduce emissions in the Kabanga Nickel Project?

Lifezone Metals will utilize its Hydromet technology, which is expected to significantly reduce emissions compared to traditional smelting methods.

What potential financial support is mentioned in the MOU for Lifezone Metals (LZM)?

JOGMEC will consider providing financial support for Japanese companies upon submittal of an application for the Japanese Governmental funding support program.

Is the MOU between Lifezone Metals (LZM) and JOGMEC legally binding?

No, the MOU is non-binding and imposes no obligations on either party.

Lifezone Metals Limited

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