On October 27, Tanzanian local time, Tanzanian Minister of mining bitek issued a mining certificate to Denbo nickel industry group, and the kabanga nickel project was officially implemented. The Tanzanian government welcomed hundreds of millions of dollars of large projects!

Minister bitek said that according to the feasibility report, the total investment of the project is US $412 million, with a total mining of 5800 tons of nickel. It is expected to be mined for 33 years, 600000 tons per year in the first five years, and then increase to 2.2 million tons per year. In addition, the investment is to build a refinery in kahama area. According to the current price of metal nickel, the total value of nickel produced and exported each year after the project is put into operation is 854.1 million US dollars. In addition, the annual output of the supporting refinery is about 33107 tons. According to the current price, the annual export value is 666.5 million US dollars!

In terms of increasing employment and new financial revenue, Minister bitek pointed out that the project will create 978 jobs and 100 jobs in the supporting refinery! The government can obtain US $7.5 billion, equivalent to 17.2 trillion tanshillings, through this project every year.

It is reported that Denbo nickel group is a British mining company kabanga nickel. Its predecessor is LZ nickel. It is a joint venture jointly established with the Tanzanian government to mine the world-class battery grade nickel sulfide deposit in the northwest of Tanzania. Kabanga nickel accounts for 84% and the Tanzanian government owns 16% of the undiluted free circulating shares. Kabanga nickel ore project has 58 million tons of ore resources, with a nickel ore grade of 2.62% and a nickel metal content of more than 1.52 million tons. It is a key component in the manufacture of electric vehicles. At the same time, the deposit also contains a large amount of cobalt and copper, and the service life of the deposit is 30 years.