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Financial Risk Review (Tables) | 12 Months Ended
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Dec. 31, 2023
Financial Risk Review [Abstract] |
Schedule of Carrying Amount of Financial Assets Represents the Maximum Credit Exposure | The carrying amount of financial assets represents the maximum credit exposure and at the reporting date was:
|  | December 31, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
|  | $ |  |  | $ |
Cash and cash equivalents |  |  | 49,391,627 |  |  |  | 20,535,210 |
Subscription receivable |  |  | - |  |  |  | 50,000,000 |
Other receivables |  |  | 696,968 |  |  |  | 158,231 |
Receivables from affiliated entities |  |  | 1,433,243 |  |  |  | 959,935 |
Related party receivables |  |  | 75,000 |  |  |  | 655,683 |
|  |  | 51,596,838 |  |  |  | 72,309,059 |
Schedule of Credit Risk Exposure | Set out below is the information about the credit risk exposure of the Lifezone’s financial assets as at December 31, 2023, and 2022:
|  |  |  |  | Days past due |  |  |  |  |  |  |
|  | Current |  |  | 31-60 |  |  | 61-90 |  |  | 91-120 |  |  | >120 |  |  | Impairment |  |  | Total |
At December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalent |  |  | 49,391,627 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 49,391,627 |
Other receivables |  |  | 98,836 |  |  |  | 598,132 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 696,968 |
Receivable from affiliated entities |  |  | 1,433,243 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,433,243 |
Related party receivables |  |  | 75,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 75,000 |
|  |  | 50,998,706 |  |  |  | 598,132 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 51,596,838 |
|  |  |  |  | Days past due |  |  |  |  |  |  |
|  | Current |  |  | 31-60 |  |  | 61-90 |  |  | 91-120 |  |  | >120 |  |  | Impairment |  |  | Total |
At December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalent |  |  | 20,535,210 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 20,535,210 |
Subscription receivable |  |  | 50,000,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 50,000,000 |
Other receivables |  |  | 79,648 |  |  |  | 66,861 |  |  |  | - |  |  |  | 11,722 |  |  |  | - |  |  |  | - |  |  |  | 158,231 |
Receivable from affiliated entities |  |  | 748,836 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 211,099 |  |  |  | - |  |  |  | 959,935 |
Related party receivables |  |  | 655,683 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 655,683 |
|  |  | 72,019,377 |  |  |  | 66,861 |  |  |  | - |  |  |  | 11,722 |  |  |  | 211,099 |  |  |  | - |  |  |  | 72,309,059 |
Schedule of Liquidity Risk | Lifezone expects to fund its capital requirements and ongoing operations through current cash reserves, equity, mezzanine, debt funding or monetizing the offtake from the Kabanga Nickel Project.
|  | December 31, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
|  | $ |  |  | $ |
<=30 days |  |  | 7,667,147 |  |  |  | 16,029,218 |
30-60 days |  |  | 104,240 |  |  |  | - |
61-90 days |  |  | 156,360 |  |  |  | 23,018 |
91-120 days |  |  | 208,480 |  |  |  | - |
>=121 days |  |  | 5,392,901 |  |  |  | 4,691,328 |
Total |  |  | 13,529,128 |  |  |  | 20,743,564 |
Schedule of Financial Instruments | The following table includes financial instruments which are denominated in foreign currencies:
|  | December 31, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
|  | GBP £ |  |  | GBP £ |
Cash in banks |  |  | 620,208 |  |  |  | 359,021 |
Prepaid expenses |  |  | 134,828 |  |  |  | - |
Trade and other payables |  |  | 489,117 |  |  |  | 77,301 |
|  | AUD |  |  | AUD |
Cash in banks |  |  | 2,587,533 |  |  |  | 1,456,988 |
Trade receivables |  |  | 112,069 |  |  |  | - |
Prepaid expenses |  |  | 238,181 |  |  |  | - |
Trade and other payables |  |  | 743,959 |  |  |  | 919,785 |
|  | EUR |  |  | EUR |
Cash in banks |  |  | 133,685 |  |  |  | - |
|  | TZS |  |  | TZS |
Cash in banks |  |  | 1,259,494,294 |  |  |  | 600,859,075 |
|  | ZAR |  |  | ZAR |
Cash in banks |  |  | 937,684 |  |  |  | - |
Schedule of Demonstrates the Estimated Sensitivity | Lifezone’s exposure to foreign currency changes for all other currencies is not considered material.
Effect on Profit |  | December 31, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
Change in GBP Rate |  |  |  |  |  |
10% |  |  | 79,202 |  |  |  | 43,204 |
-10% |  |  | (79,202 | ) |  |  | 43,204 |
Change in AUD Rate |  |  |  |  |  |  |  |
10% |  |  | (176,987 | ) |  |  | (97,851 | )
-10% |  |  | 176,987 |  |  |  | 97,851 |
Change in EUR Rate |  |  |  |  |  |  |  |
10% |  |  | 14,848 |  |  |  | - |
-10% |  |  | (14,858 | ) |  |  | - |
Change in TZS Rate |  |  |  |  |  |  |  |
10% |  |  | (50,079 | ) |  |  | (25,744 | )
-10% |  |  | 50,079 |  |  |  | 25,744 |
Change in ZAR Rate |  |  |  |  |  |  |  |
10% |  |  | (5,058 | ) |  |  | - |
-10% |  |  | 5,058 |  |  |  | - |

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