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

Strategic partnership to secure cleaner nickel, copper and cobalt from Kabanga Nickel Project for Japanese battery industry

NEW YORK-Lifezone Metals Limited ( NYSE: LZM ) Chief Executive Officer Chris Showalter is pleased to announce the signing of a memorandum of understanding (MOU) with the 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 undeveloped nickel sulphide deposits, with copper and cobalt byproducts. By utilizing Lifezone’s Hydromet technology, the project is expected to significantly reduce emissions compared to traditional smelting methods.

Showalter said: “Kabanga is a world-class, high-grade nickel deposit and we welcome the opportunity to bring JOGMEC on board 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 US International Development Finance Corporation and the Tanzanian government, and now the strategic cooperation with JOGMEC – an independent administrative agency of the Japanese government for energy and metals – we see a clear indication of intent to advance this globally significant project for the benefit of all partners and stakeholders.”

Under the terms of the MOU, Lifezone will collaborate with JOGMEC to facilitate the supply of Kabanga metals, through Lifezone’s share of the commercialization rights, to Japan’s growing battery market, ensuring a sustainable and traceable metals value chain. This initiative is in line with Lifezone and JOGMEC’s commitment to promoting responsible mining practices and supporting the global transition to clean energy.

JOGMEC will consider providing financial support to Japanese companies by submitting an application to the Japanese government’s financial support program. This potential investment underscores the importance of the Kabanga Nickel Project in meeting the Japanese industry’s growing demand 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 ensure 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 diversified and sustainable critical energy minerals supply chains by 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 US International Development Finance Corporation (DFC) are members of the recently announced MSP Finance Network , and the Kabanga Nickel Project has been recognized as an MSP project.

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About Lifezone Metals

At Lifezone Metals (NYSE: LZM), our mission is to provide cleaner, more responsible metals production and recycling. Using a scalable platform powered by our Hydromet Technology, we enable the ability to reduce energy consumption, emissions and metals production costs compared to traditional smelting.

Our Kabanga Nickel Project in Tanzania is believed to be one of the largest, highest-grade, undeveloped nickel sulphide deposits in the world. Together with our Hydromet technology, we are working to unlock a new source of LME-grade nickel, copper and cobalt for global battery metals markets, enabling Tanzania to achieve full in-country value creation and become the next major 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 used automotive catalytic converters more cleanly and efficiently than conventional smelting and refining methods.

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