Lifezone Metals Closes $25 Million Share Offering to Fund Exploration and Recycling Projects

Lifezone Metals Limited (NYSE: LZM) announced the closing of 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 will use net proceeds for exploration activities in Burundi and Tanzania, its platinum group metals (PGM) recycling project, hydromet research and development, and general corporate purposes. Roth Capital Partners served as the sole placement agent for the transaction.

The capital raise comes at a critical time as global demand for battery metals and recycled precious metals intensifies. Lifezone Metals is focused on delivering cleaner and more responsible metals production and recycling through its proprietary Hydromet Technology, which offers potential for lower energy consumption, lower emissions, and lower cost compared to traditional smelting. The company’s Kabanga Nickel Project in Tanzania is considered one of the world’s largest and highest-grade development-ready nickel sulfide deposits. By pairing this project with its Hydromet Technology, Lifezone aims to unlock a new source of nickel, copper, and cobalt for the global battery metals markets and empower Tanzania to achieve in-country beneficiation.

In addition to mining, Lifezone is advancing its US-based recycling partnership to recover platinum, palladium, and rhodium from spent automotive catalytic converters using its cleaner hydrometallurgical process. This initiative supports a circular economy for precious metals and is expected to be more efficient than conventional smelting and refining methods. The new funding will accelerate these efforts, enabling the company to expand its research and development activities and advance its exploration programs in East Africa.

For more information, visit the full press release here and the company’s website at Lifezone Metals.