BHP re-enters Africa with Tanzania nickel investment

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BHP Group , has invested $40 million in a Tanzania nickel project, UK-based private company Kabanga Nickel said on Monday, the first new bet by the world's biggest miner in Africa in years.

has invested $40 million in a Tanzania nickel project, UK-based private company Kabanga Nickel said on Monday, the first new bet by the world's biggest miner in Africa in years.

Kabanga, which expects to start producing in 2025, aims for minimum annual output of 40,000 tonnes of nickel, 6,000 tonnes of copper and 3,000 tonnes of cobalt. Demand for nickel, a key component in electric vehicle batteries is projected to rise."This investment secures access to a world class nickel sulphide resource and is aligned with BHP's strategy to capture opportunities in future-facing commodities," a BHP spokesperson said.

BHP also invested $10 million into hydrometallurgical technology firm Lifezone Limited. Kabanga said the hydromet technology, which it will use in its refinery, is a greener way to produce metal than energy-intensive smelting.statement

 

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