Kabanga Nickel Limited (Kabanga Nickel) announced that Tembo Nickel Corporation Limited has been issued a Special Mining Licence (SML) for the Kabanga Nickel Project (the Project).
Kabanga will now accelerate the development of the project, which is globally the largest unexploited deposit of nickel sulfide, a crucial mineral in the development and manufacture of batteries used in electric vehicles. Demand for EV batteries will drive new demand for nickel, with the total global nickel supply forecast to more than double—from an estimated 2.25 million tonnes in 2020 to 5 million tonnes by 2040.
The SML has been approved by the Government of Tanzania and signed by the Mining Commission. The SML grants Kabanga Nickel’s local partnership vehicle, Tembo Nickel, the full mineral rights that will unlock the substantial economic potential of the Kabanga Nickel Project.
With the SML issued and the Framework Agreement with the Tanzanian Government already approved, site and community relations teams have been mobilized and will focus their efforts on site refurbishments, allowing for full-scale development activities to follow.