Shares of Lifezone Metals, which debuted on the New York Stock Exchange Thursday, were trading higher shortly after noon.
At 12:29 p.m. ET, the stock had risen 48% to trade at $18.49 a share. The stock opened at $11.90 a share, and traded as high as $19.92 per share and as low as $11.61 per share earlier in the session.
Lifezone Metals is the result of a business combination between special purpose acquisition company GoGreen Investments and Lifezone Holdings.
Lifezone Metals said its proprietary Hydromet processing technology is a lower-cost, lower-energy intensity alternative to smelting, which is also less carbon intensive.
The company also said its flagship Kabanga Project in Tanzania is “estimated to be one of the largest and highest-quality undeveloped nickel sulphide deposits in the world.”
Trade in the company’s stock had been paused several times on Thursday due to volatility.