Lifezone Metals Reduces BHP Payment by $8M

Key Highlights

• Lifezone Metals announced an $8 million reduction in the cap on consideration payable to BHP Billiton (UK) DDS Limited.
• The reduction follows an independent expert determination that the Kabanga Nickel Project’s Resettlement Action Plan (RAP) is in material alignment with IFC Performance Standard 5.
• The definitive agreement with BHP included a RAP assessment provision requiring independent verification after a 12-month period.
• The RAP expert, Ed O’Keefe of Synergy Global Consulting, confirmed alignment after a desktop review and site visit.
• Consideration payable to BHP includes a $10 million fixed payment and a contingent payment based on a $28 million reference amount.