Lifezone Metals Raises $25 Million to Advance Battery Metals Projects and Recycling Technology
Lifezone Metals closed a $25 million share offering to fund exploration in Tanzania and Burundi, its PGM recycling project, and hydromet research, highlighting its commitment to cleaner metals production for the battery and precious metals markets.
Lifezone Metals Limited (NYSE: LZM) has closed a share purchase agreement with institutional investors, selling 5,700,000 ordinary shares at $4.40 per share for gross proceeds of approximately $25 million, the company announced. The net proceeds will be directed toward exploration activities in Burundi and Tanzania, its platinum group metals (PGM) recycling project, hydromet research and development, and general corporate purposes. Roth Capital Partners acted as the sole placement agent for the transaction.
The capital raise comes as Lifezone advances its Kabanga Nickel Project in Tanzania, described as one of the world's largest and highest-grade development-ready nickel sulfide deposits. By pairing the project with the company's proprietary Hydromet Technology, Lifezone aims to unlock a new source of nickel, copper, and cobalt for the global battery metals markets while enabling in-country beneficiation for Tanzania. The technology promises lower energy consumption, lower emissions, and lower cost metals production compared to traditional smelting.
In addition to mining, Lifezone is applying its Hydromet Technology to recycling through a US-based partnership, focusing on recovering platinum, palladium, and rhodium from responsibly sourced spent automotive catalytic converters. The process is expected to be cleaner and more efficient than conventional smelting and refining methods, supporting a circular economy for precious metals.
The funding underscores Lifezone's strategy to address growing demand for battery metals driven by the electric vehicle transition and to reduce environmental impact in metals production. The company's focus on both extraction and recycling positions it to serve a broader supply chain, from mining to end-of-life recovery. For more information, visit Lifezone Metals.
This announcement follows the company's previous disclosures and highlights ongoing investor interest in sustainable metals solutions. The full press release is available at https://ibn.fm/HIA3e.