Lifezone Metals Announces H1 2026 Interim Financial Results

NEW YORK--(BUSINESS WIRE)--Jul 29, 2026--

Lifezone Metals Limited’s ( NYSE: LZM ) Chief Executive Officer, Chris Showalter and Chief Financial Officer, Ingo Hofmaier, announce the H1 2026 Interim Financial Results, available on Edgar and the Company’s website.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260729520800/en/

Mr. Showalter commented:"Our relationship with the Government of Tanzania remains central to the Kabanga Nickel Project, and we continued working through the Framework Agreement amendment including direct engagement with H.E. President Samia Suluhu Hassan. At the same time, we moved Kabanga into procurement at scale, releasing roughly $854 million in contracts to market, with pre-FID activities funded by the $21.7 million drawn under the Taurus facility and $25 million equity raise.

We also opened a new frontier with the Musongati exclusivity agreement in Burundi, and reached a pilot-scale milestone in our PGM Recycling Project, recovering >99% platinum and palladium and targeting >95% rhodium from spent Autocat material.”

Financial Summary:

Corporate highlightsand key activities during the six months ended June 30, 2026

Kabanga Nickel Project:

Financing Workstreams:

Figure 1: Lifezone Metals' Chairman, Keith Liddell, TNCL CEO, Benedict Busunzu with Tanzanian Treasury Registrar, Nehemiah Mchechu, ahead of meeting with H.E. President of Tanzania, Dr Samia Suluhu Hassan

Technical and Operational Progress:

Figure 2: Mining Commission and RMO Team during a Kabanga site visit to inspect TNCL’s Prospective Licenses​

Figure 3: Project area land clearing

Occupational Health and Safety, Environment, Social Performance and Resettlement Progress:

Figure 4: TNCL Community Relations team and community members meeting at the newly converted Community Liaison Office in Rwinyana

Figure 5: TNCL Community Relations Manager presenting at a feedback meeting in Kahororo

Figure 6: TNCL Environment Team celebrating World Environment Day

Musongati Nickel Project:

PGM Recycling Project:

Simulus Laboratories:

Investor Webcast: 29 July 2026 / 10:00 ET | 15:00 BST

Chris Showalter, CEO and Ingo Hofmaier, CFO, will be hosting a conference call and Q&A, today. Analysts and investors can register at: Lifezone Metals H1 2026 Interim Financial Results Webcast.

If you would like to sign up for Lifezone Metals news alerts, please register here.

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About Lifezone Metals

Lifezone Metals (NYSE: LZM) is committed to delivering cleaner and more responsible metals production and recycling. Through the application of our Hydromet Technology, we offer the potential for lower energy consumption, lower emissions and lower cost metals production compared to traditional smelting.

Our Kabanga Nickel Project in Tanzania is believed to be one of the world's largest and highest-grade development-ready nickel sulfide deposits. By pairing it with our Hydromet Technology, we are working to unlock a new source of nickel, copper and cobalt for the global battery metals markets and to empower Tanzania to achieve in-country beneficiation.

Through our US-based recycling partnership, we are working towards applying our Hydromet Technology to the recovery of platinum, palladium and rhodium from responsibly sourced spent automotive catalytic converters. Our process is expected to be cleaner and more efficient than conventional smelting and refining methods, supporting a circular economy for precious metals.

https://lifezonemetals.com

Forward-Looking Statements

Certain statements contained herein are not historical facts but may be considered “forward-looking statements” within the meaning of the U.S. Securities Act of 1933, as amended, the U.S. Securities Exchange Act of 1934, as amended, and the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding the plans, strategies, intentions, objectives, expectations, and future financial and operational performance of Lifezone Metals Limited and its subsidiaries (“ Lifezone ”).

These statements are based on the beliefs and assumptions of management, as well as information currently available to Lifezone. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot guarantee that these expectations will be achieved. Forward-looking statements are inherently subject to significant risks, uncertainties, and assumptions, many of which are beyond our control.

Forward-looking statements generally relate to future events or our future financial or operating performance. These statements may be preceded by, followed by, or include words such as “believes,” “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “may,” “might,” “could,” “should,” “would,” “will,” “forecast,” “predict,” “scheduled,” “continue,” “potential,” or similar expressions, although the absence of such words does not mean that a statement is not forward-looking.

Forward-looking statements contained or incorporated herein include, but are not limited to, statements regarding future events, the estimated or anticipated future results of Lifezone, future opportunities for Lifezone, including the efficacy of the Hydromet Technology and the development of, and processing of mineral resources at (amongst other things), the Kabanga Nickel Project, the ability to finance the Kabanga Nickel Project, negotiations regarding the Framework Agreement and other commercial arrangements, the outcome of certain legal proceedings with Tanzania Revenue Authority, Lifezone’s ability to continue to operate as a going concern, and other statements that are not historical facts.

These statements are based on Lifezone's management's current expectations and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond Lifezone's control.

These statements are subject to a number of risks and uncertainties regarding Lifezone's business, and actual results may differ materially. These risks and uncertainties include, but are not limited to: general economic, political, and business conditions, including but not limited to economic and operational disruptions; the development and processing of mineral resources at the Kabanga Nickel Project, the amendment of the Framework Agreement and the agreement and finalization of the joint financial model relating to the Kabanga Nickel Project which will define the equitable sharing of economic benefits with government authorities in Tanzania; obtaining additional capital, including use of the debt market, future capital requirements, and sources and uses of cash; maintaining key strategic relationships with partners and customers; the timing and significance of contractual relationships; the outcome of any legal proceedings that may be instituted against Lifezone; risks related to the rollout of Lifezone's business, the efficacy of the Hydromet Technology, and the timing of expected business milestones; the acquisition, maintenance, and protection of intellectual property; the ability of Lifezone to achieve projections and anticipate uncertainties relating to its business, operations, and financial performance, including expectations with respect to financial and business performance, future operating results, financial projections, and business metrics; expectations regarding product and technology development and pipeline, market size, and the competitive landscape; the ability to develop, design, and sell differentiated products and services; expectations regarding future acquisitions, partnerships, or other relationships with third parties; upgrading, maintaining, and securing information technology systems; the timing and significance of contractual relationships; the effects of competition on Lifezone Metals’ business; the ability of Lifezone Metals to execute its growth strategy, the development and processing of the mineral resources at the Kabanga Nickel Project; the ability to finance the Kabanga Nickel Project, negotiations regarding the Framework Agreement and other commercial arrangements, the outcome of certain legal proceedings with Tanzania Revenue Authority, Lifezone’s ability to continue to operate as a going concern; obtaining additional capital, including use of the debt market, future capital requirements, and sources and uses of cash; manage growth profitably and retain its key employees; the ability of Lifezone Metals to reach and maintain profitability; enhancing future operating and financial results; complying with laws and regulations applicable to Lifezone Metals’ business; maintaining the listing of its securities on the New York Stock Exchange; complying with applicable laws and regulations, including privacy regulation; anticipating the impact of, and responding to, new accounting standards; meeting future liquidity requirements and complying with restrictive covenants related to long-term indebtedness; and other risks that will be detailed from time to time in filings with the U.S. Securities and Exchange Commission (SEC); and dealing effectively with litigation, complaints, and/or adverse publicity.

Forward-looking statements are not guarantees of future performance. Actual results could differ materially from those expressed or implied by the forward-looking statements due to various risks and uncertainties.

New risk factors emerge from time to time and it is not possible to predict all such risk factors, nor can the parties assess the impact of all such risk factors on us, or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Additional risks and uncertainties not presently known to us or that we currently deem immaterial could also affect our actual results and outcomes.

All forward-looking statements are expressly qualified in their entirety by the foregoing cautionary statements. Lifezone undertakes no obligations to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, you should not place undue reliance on these forward-looking statements.

Forward-looking statements speak only as of the date herein. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required by applicable law. Accordingly, you should not place undue reliance on these forward-looking statements.

Figure 6: TNCL Environment Team celebrating World Environment Day

Figure 5: TNCL Community Relations Manager presenting at a feedback meeting in Kahororo

Figure 4: TNCL Community Relations team and community members meeting at the newly converted Community Liaison Office in Rwinyana

Figure 3: Project area land clearing

Figure 2: Mining Commission and RMO Team during a Kabanga site visit to inspect TNCL’s Prospective Licenses

Figure 1: Lifezone Chairman, Keith Liddell, TNCL CEO, Benedict Busunzu with Tanzanian Treasury Registrar, Nehemiah Mchechu, ahead of meeting with H.E. President of Tanzania, Dr Samia Suluhu Hassan

NAHARIYA, Israel (AP) — The Israeli military was about to launch a nighttime strike on a group of men in southern Syria when the soldiers noticed the long curls dangling from the temples of their targets. The troops held their fire.

These were not Syrian militants attempting to breach Israel's border, but religious Jews who had slipped into Syria and were on their way back.

The episode, first reported last week by Israel's public broadcaster and confirmed to The Associated Press by the Israeli military, has helped raise the profile of a fringe group of Israeli settlers that has staged numerous incursions into Syria, where they hope to establish Jewish settlements.

Israel's military has occupied the area in southern Syria for more than a year, but forays by civilian settler groups into the region have only recently became a regular occurrence.

The groups, with members numbering in the dozens, have attempted to cross from Israel to Syria every few days in recent weeks. The military is tasked with reining them in and, while most Israelis regard them as fringe, the wider settlement movement in Israel has strong backers in the country's far-right government.

The most prominent of the groups behind the incursions in Syria is known as “Pioneers of Bashan.”

Formed early last year, the Pioneers of Bashan are a group of right-wing Israeli activists aiming to establish Jewish settlements inside Syria. They are named after the biblical region of Bashan, which includes part of modern-day Syria and neighboring Jordan.

They have their sights set on an area of southwestern Syria that includes the provinces of Quneitra, Daraa and Sweida.

Part of this area, including the summit of Mount Hermon, is a “buffer zone” Israel declared in December 2024, soon after the ouster of former Syrian President Bashar al-Assad in an insurgent offensive.

The region was known in Scripture for its fertile land and came to be associated with strength and divine providence. In the Bible, the Israelites under Moses conquered the Bashan from the mythical King Og and it was then handed to some of the Israelite tribes.

Members of the group claim a historical right to these lands and argue that their presence there will help Israel defend the Golan Heights, which Israel captured from Syria during the 1967 Mideast war and later annexed — a move not recognized by most of the international community.

Some claim that Israeli settlement of the areas would protect members of the Druze religious minority after violence erupted last year between Druze groups and Sunni Bedouin tribes and Syrian government security forces. Hundreds of civilians — mostly Druze — were killed in sectarian revenge attacks.

Amos Azaria, a Pioneers of Bashan leader, said the group aims to establish a “humanitarian corridor” from Israel to the Druze enclave of Sweida by depopulating adjacent Sunni-majority areas.

“The entire Daraa district ... must be cleared of the enemies seeking our destruction and instead be filled with Jewish settlement,” said Azaria, a computer science professor at Ariel University in the Israeli-occupied West Bank.

The group seeks first to establish a Jewish outpost in southern Syria next to the Israeli-controlled Golan Heights. Outposts, which settlers often call “young settlements,” describe rustic footholds in territory they desire.

Settlers normally establish outposts in the hope that one day Israel's government will legalize them. That's how many Jewish settlements in the Israeli-occupied West Bank — which rights groups say are major drivers of settler violence and displacement of Palestinians — got their start.

So far their incursions into Syria have been brief. The military has removed the activists before they have been able to build anything.

Videos on the group's X account from July 5 show a group of religious teens seated on the ground with their arms linked together, as soldiers try to pry them apart.

A second video shows soldiers shoving several of the activists and zip tying their hands behind their backs.

A video posted by the group in April shows several dozen activists waving Israeli flags and chanting on the roof of a house said to be on the outskirts of the Syrian village of Hader, in Quneitra, as Israeli soldiers look on.

Israel's military says it takes a firm hand with the border-crossers. It has repeatedly condemned the group for diverting troops' attention from military operations and compromising their security. It says it detains civilians caught crossing the border and hands them over to police, saying it “expects law enforcement authorities to bring those involved to justice.”

Israel’s Channel 12 reported last week that no indictments have been filed so far.

The border-crossers say they have cozy relationships with members of Prime Minister Benjamin Netanyahu’s government. Several government ministers have expressed support for their cause, and the group’s social media platforms document meetings it has held with at least two cabinet ministers, Amihai Eliyahu and Shlomo Karhi.

“We have support from friends in the government and many members of the Knesset,” Azaria said.

Syrian officials have not commented publicly on the attempts by Israeli settler groups to enter Syria.

The Syrian government has condemned Israel’s occupation of southern Syria and frequently calls for Israeli forces to withdraw and for the international community to intervene. Israeli troops have carried out incursions and raids in areas of Syria outside the buffer zone, sometimes clashing with local residents, who have increasingly attempted to block roads to keep them out.

Since Oct. 7, 2023, a similar movement has stages occasional marches along the Gaza border calling to reestablish settlements in the Gaza Strip. Israel removed its 21 settlements as part of its 2005 withdrawal from Gaza.

The Lebanese government has also paid little attention to a fringe Israeli settler group — “Uri Tzafon,” or “Awaken, O North” — that has staged incursions into southern Lebanon. Like Syrian officials, the Lebanese government has focused on calling for withdrawal of the Israeli army from southern Lebanon.

Still, some have warned against entirely discounting the settler groups.

Lebanese Deputy Prime Minister Tarek Mitri wrote on X of the attempts by the Uri Tzafon group to enter the country, “It is true that they are a small and fringe group and they withdrew under orders from the Israeli army.”

But he pointed out that the movement to settle the West Bank began with an embattled band of right-wing religious activists, known as Gush Emunim, “which in its early days was a small group that faced some obstacles and difficulties.”

——

Sewell reported from Beirut. Frankel reported from Jerusalem. AP videojournalist Alon Bernstein contributed to this report from the Golan Heights.

A metal board in the shape of a gunman sits on an old bunker at an observation point on Mount Bental in the Israeli-occupied Golan Heights, Tuesday, July 21, 2026. (AP Photo/Ariel Schalit)

A right-wing Israeli activist holds a sign which reads "Its about time to settle in the Bashan", in the Israeli-occupied Golan Heights, Tuesday, July 21, 2026. (AP Photo/Ariel Schalit)

The border between Syria and the Israeli-controlled Golan Heights town of Majdal Shams is seen Tuesday, July 21, 2026. (AP Photo/Ariel Schalit)