Business
Lifezone Metals Completes Acquisition of Hydromet Lab and Engineering Firm, Simulus Group
New York (United States), Perth (Australia), July 27, 2023 (GLOBE NEWSWIRE) -- Lifezone Metals Limited (“Lifezone Metals” or the “Company”) (NYSE: LZM), a moder
About this update from Lifezone Metals Limited
[{"type":"text","content":" New York (United States), Perth (Australia), July 27, 2023 (GLOBE NEWSWIRE) -- Lifezone Metals Limited (“Lifezone Metals” or the “Company”) (NYSE: LZM), a modern metals company creating value across the battery metals supply chain from resource to metals production and recycling, is pleased to announce the acquisition of The Simulus Group Pty Limited (“Simulus” or “Simulus Group”) has concluded. Lifezone Metals has a long-standing commercial relationship with the Simulus Group – a Perth-based hydrometallurgy (“hydromet”) laboratory and engineering company – that was Lifezone Metals’ metallurgical laboratory of choice for years, having supported a number of studies and test work on our Kabanga and Sedibelo projects. We consider the acquisition to be the logical next step, allowing us to shorten testing times, avoiding regular delays when using third party laboratories, and controlling external costs. Founder and Chair of Lifezone Metals, Keith Liddell, said: “We believe that Simulus Group is one of the best hydrometallurgical laboratories in the world and acquired the company to incorporate their hydromet technology, lab capabilities, and technical excellence into our business as we grow to become a global metals company. At a time when the world is racing to tackle the climate crisis, this technology will provide a responsible solution to delivering the battery metals needed to support decarbonisation of the global economy.” Over the coming months, we will be planning for and integrating the Simulus facilities and teams into the Operating division of Lifezone Metals under Chief Operating Officer, Gerick Mouton. Once integrated, the aim will be to streamline the test work and further development of hydromet, bringing the technology solution closer to commercialisation – and in turn reducing the emissions produced as a result of processing and recycling of battery metals. Lifezone Metals has a solid pipeline of projects, including the Kabanga nickel project, autocatalyst recycling and further expansion of the portfolio as it grows, which will be supported by the lab and engineering capabilities of Simulus and may in time require an expansion of the current facilities. The acquisition of Simulus is a key piece of Lifezone Metals’ long-term strategy and is an enabler to our ultimate mission: Developing ...