Minerals ministry, BHP in dialogue over Kabanga Nickel

Dar es Salaam. After a decade, BHP has shown interest in investing in the Kabanga Nickel project in Tanzania.

Ministry of Minerals, Permanent Secretary, Kheri Mahimbali said BHP 2017 was the world’s largest mining company by Market capitalization.

"Earlier this week, I received BHP, Lifezone, and Tembo Nickel leadership in Dar es Salaam where we had a dialogue," he said.

He said, BHP and partners are developing the first ever multi metals processing facility in Tanzania.

"We applaud our partners for walking the talk. This facility is a true testimony of minimal beneficiation in the country," he said.

According to him, the facility brings a cleaner more sustainable supply solution for energy metals. Adding it has the potential to reduce emissions, costs, and the overall environmental footprint.

"We look forward to BHPs final investment decision by the end of the third quarter in 2024," he said.

BHP is listed on the Australian Stock Exchange with a market capitalization of approximately $150 billion and FY22 revenues of $65 billion.

BHP is a key partner of the Kabanga Nickel project and holds a 17 percent shareholding in Kabanga Nickel Limited.

Tembo Nickel Corporation (Tembo) owned 84 percent by Kabanga Nickel Limited and 16 percent by the government has been formally established for the mining processing and refining of battery-grade nickel with cobalt and copper co-products.