Lifezone Produces First-Ever Platinum, Palladium and Rhodium from its U.S. PGM Recycling Project Lifezone’s Simulus Laboratories Completes Locked-Cycle and Pilot Test Work

About this update from Platinum Group Metals Ltd.

  NEW YORK, April 07, 2026--(BUSINESS WIRE)--Lifezone Metals Limited’s (NYSE: LZM) Chief Executive Officer, Chris Showalter, and Chief Technology Officer, Dr. Mike Adams, are pleased to announce first production of platinum, palladium and rhodium, collectively Platinum Group Metals (PGMs), from U.S.-sourced spent automotive catalytic converters ("Autocats"). The work was undertaken to inform design criteria for a planned Autocats recycling precious metals refinery in the United States and marks the first refined PGMs produced from spent Autocats using Lifezone’s own in-house Hydromet Technology, considered a cleaner, more efficient and integrated processing route for recycling PGMs than traditional smelting and refining. Highlights: The United States remains structurally dependent on foreign sources for the ~2 million ounces of PGMs it imports annually, primarily from South Africa and Russia, creating persistent economic and national-security vulnerabilities. PGMs are essential inputs for U.S. automotive emissions systems, defense and aerospace manufacturing, medical technologies, and emerging hydrogen and fuel-cell applications. Lifezone is now focused on advancing our innovative technology to offer the United States an effective and scalable means to achieve a closed-loop system by producing refined PGMs for North American consumers and government strategic stockpiles. Lifezone’s technology reduces dependency on foreign entities and countries, securing domestic PGM production from secondary sources. Mr. Showalter stated: "Achieving the first-ever production of platinum, palladium and rhodium metal samples from spent Autocats marks a historic milestone towards industrial implementation of Lifezone’s Hydromet Technology. Our customized flowsheet lays a strong foundation for the Company’s overarching aspiration to become the U.S.’ closed loop, traceable and responsibly sourced critical metals solution. Our first module alone could produce 220 thousand ounces of 3E PGMs annually, nearly matching the only significant primary PGM mine in the U.S. On rhodium specifically, ranked within the highest U.S. supply chain risk category by the U.S. Geological Survey, this is transformative, as we could produce more than five times the current annual figure coming out of the country’s only producing mine, from a single Lifezone Autocats Recycling pl...

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