First Quantum Minerals Ltd. (TSX: FM) announced the commencement of commercial production at its Enterprise nickel mine in Zambia, effective June 1, 2024.
Located 12km from the company’s Sentinel copper mine in the North Western Province, this milestone highlights First Quantum’s ability to deliver sustainable growth.
The Enterprise project, approved two years ago alongside the S3 Expansion project at Kansanshi, reflects First Quantum’s commitment to Zambia’s mining sector, spurred by the New Dawn administration’s reforms aimed at creating a stable and responsible mining environment.
Zambia’s improved investment climate is evidenced by its rise in the Fraser Institute’s annual mining survey, moving from 58th to 34th place globally.
The country now ranks third in Africa, ahead of traditional mining giants like Chile and Peru, signaling strong support from the current administration.
In the second quarter, Enterprise produced 6,147 tonnes of nickel, up from 4,031 tonnes in Q1 2024. This consistent performance in the first half of the year justified the declaration of commercial production.
Consequently, the 2024 production guidance has been refined to 17,000 to 20,000 tonnes of contained nickel.
The successful ramp-up of Enterprise has added 929 jobs, increasing the workforce at FQM Trident to 8,505 employees.
Anthony Mukutuma, FQM Director for Zambia, praised the company’s project execution and operational excellence, emphasizing the significance of this achievement for First Quantum’s long-term commitment to Zambia.
First Quantum plans to complete the S3 Plant construction at Kansanshi in the first half of 2025, with ore processing to commence immediately thereafter.
Looking ahead, the company aims to expand its exploration program in Zambia, initially focusing on areas around existing operations before exploring new sites across the country’s mining regions.
