British miner Kabanga Nickel, formerly known as LZ Nickel, has inked a framework agreement with the government of Tanzania to develop the world’s largest battery-grade nickel sulphide deposit, in the country’s northwestern.
As part of the deal, the parties have created a joint company called Tembo Nickel Corp., which will mine, process and refine class 1 nickel with cobalt and copper co-products.
Kabanga Nickel is the new entity’s majority owner with an 84% stake. Tanzania owns the remaining 16%, which is the government’s usual stake in all of the country’s mining projects. Continue Reading →