On 23 August, 2024 TSX listed First Quantum Minerals announced that it has achieved commercial production at its Enterprise nickel mine in Zambia, set to become Africa’s biggest nickel operation. This milestone brings Zambia closer to its goal of becoming a key supplier of battery metals. The Enterprise mine, located near First Quantum’s Sentinel copper mine, took slightly over two years to build and commission.

During the second quarter of 2023, Enterprise produced 6,147 tonnes of nickel, a 53% increase from the previous quarter. Once at full capacity, the mine is expected to produce around 30,000 tonnes of nickel concentrate annually, making it a top 10 global nickel producer.
In a separate development, First Quantum has agreed with HKEX and SSE listed Jiangxi Copper, its second-largest shareholder, to limit Jiangxi Copper’s ownership in the company. The agreement could potentially pave the way for a future deal to sell Jiangxi a minority stake in First Quantum’s Zambian assets.

First Quantum has also narrowed its production guidance for Enterprise this year to 17,000 to 20,000 tonnes of nickel, at the higher end of its previous estimate, due to strong year-to-date production. Also, the company has started meetings with Panama’s new government regarding its shuttered Cobre Panama mine, expressing a preference for avoiding arbitration but reserving the right to pursue it if talks break down.

Source: https://www.northernminer.com/news/first-quantum-starts-up-zambia-nickel-mine-enters-standstill-deal-with-jiangxi/1003869915/