FQM Declares Commercial Production at Enterprise Nickel Mine
First Quantum Minerals Ltd. (TSX: FM) has officially declared commercial production at the Enterprise nickel mine as of June 1, 2024. Located 12km from the company’s Sentinel copper mine in Zambia’s North Western Province, the Enterprise project has achieved this milestone just over two years after receiving approval, exemplifying First Quantum’s dedication to sustainable growth and operational excellence.
The Enterprise project, alongside the S3 Expansion project at Kansanshi, was approved two years ago, following Zambia’s New Dawn administration’s commitment to reforming the mining sector.
This commitment has fostered a more stable and responsible mining environment in Zambia. Reflecting this improved investment climate, Zambia’s ranking in the Fraser Institute’s annual mining survey jumped from 58 to 34, positioning it as the third highest in Africa and ahead of traditional mining powerhouses like Chile and Peru.
During the second quarter, Enterprise produced 6,147 tonnes of nickel, up from 4,031 tonnes in the first quarter of 2024. This consistent performance throughout the first half of the year supported the decision to declare commercial production.
Steadily improving mining volumes and strong plant performance have led to a revised production guidance for 2024, now projected at 17,000 to 20,000 contained tonnes of nickel, up from the previous range of 10,000 to 20,000 tonnes.
The Enterprise operation has also contributed to local employment, adding 929 new jobs and bringing the total workforce at FQM Trident to 8,505. This job creation aligns with First Quantum’s long-term commitment to Zambia, which spans over 28 years.
Anthony Mukutuma, Director of FQM Zambia, highlighted the company’s successful project execution and operational excellence. “This milestone at Enterprise showcases the capabilities of our internal projects team. The rapid commercialisation of Enterprise, along with the forthcoming S3 Expansion Project at Kansanshi, underscores First Quantum’s enduring commitment to Zambia. Our focus now is on completing the S3 Plant construction by the first half of 2025 and commencing ore processing immediately thereafter.”
Looking ahead, First Quantum plans to expand its exploration programme in Zambia, initially concentrating on areas around existing operations before exploring new potential sites across the country’s mining regions.
