08:23 AM EDT, 08/11/2025 (MT Newswires) -- Lifezone Metals ( LZM ) said Monday its Kabanga Nickel unit has received a $60 million bridge loan from Taurus Mining Finance to fund early works and infrastructure at the Kabanga Nickel Project in Tanzania.

The loan is subject to a 2.25% arrangement fee and a 2.5% commitment fee per anum on undrawn amounts, and an interest rate of 9.25% per annum payable quarterly on drawn amounts, and is secured by a security interest in shares Lifezone indirectly holds in Kabanga Nickel and other related assets, Lifezone said. The loan matures July 31, 2027, with an option to extend by six months.

As part of the transaction, Lifezone has issued 2.5 million warrants to Taurus Mining Finance, exerciseable at $5.42 per share, that expire 5 years from their issuance.

The financing will cover the period between completion of the feasibility study and a final investment decision expected in mid-2026, the company said. The Kabanga project is 84% owned by Lifezone and 16% by Tanzania's government, the company said.

Shares of the company were up 0.7% in recent Monday premarket activity.