Clyde & Co advised Kabanga Nickel on a binding framework agreement with the Government of Tanzania for the development of the Kabanga Nickel Project.
As part of the transaction, Kabanga Nickel also acquired certain historic project assets.
Located in the north-west of Tanzania, the multi-billion dollar Kabanga project hosts an in situ mineral resource of 58 million tonnes at 2.62% Ni, containing more than 1.52 million tonnes (3.30 billion pounds) of nickel, a key ingredient for the making of electric vehicles. Kabanga will support a mine life of at least 30 years with further exploration potential.
As part of the deal, the parties have also created a joint venture company called Tembo Nickel Corporation Limited (owned 84% by Kabanga Nickel and 16% by the Government of Tanzania) to undertake mining, processing and refining of Class 1 nickel with cobalt and copper co-products.
The Clyde & Co team advising on the project was led by Michael Strain (Picture), with the support of James Pius (Senior Associate – Dar es Salaam) and Amreen Ayub (Associate – Dar es Salaam).
Law Firms: Clyde & Co;
Clients: Kabanga Nickel;