Recently, nickel producer First Quantum (First Quantum) announced the first quarter of 2023 report, 2023 Q1Ravensthorpe nickel project production 5917 tons, an increase of 16% year on year, an increase of 3.72% (2022Q4:5705 tons).
2023 production guidance: 28,000 to 38,000 tons (2022:20,000 to 23,000 tons of nickel), among which the Ravensthorpe nickel project production target 23,000 to 28,000 tons of metal, Enterprise open pit nickel mine production target of 5000-10,000 tons.
Ravensthorpe nickel project
Nickel and cobalt hydroxide (MHP) production in the first quarter of 2023 was 5,917 metal tons, up 16% year on year, and MHP sales volume was 5,846 metal tons, up 34% year on year, mainly due to increased production (mining commenced in 2021, mine project life 19 years to 2040).
Enterprise open pit nickel mine
In February 2023, First Quantum explored for its first nickel ore on schedule, with production expected to begin in the second quarter of 2023. First Quantum plans to continue expanding commercial production in 2023, with full-plant production ramping up significantly in 2024.
Enterprise Nickel is a low-cost, high-grade nickel sulfide project 12 kilometers away from Sentinel, northwestern province of Zambia. First Quantum's three-year capex guidance includes $35 million in expected project capital to complete the Enterprise Nickel project.
Exploration activity
First Quantum will conduct preliminary drilling of a series of mafic nickel-copper targets in Finland and Western Australia in 2023.
