On 26 April 2022, First Quantum Mineral released its First quarter production report, which showed that Ravensthorpe nickel plant produced 5,122 metal tons in the First quarter, up 10.3% year-on-year and 51.3% quarter-on-quarter; Its sales volume was 4,250 metal tons, up 84.6% year-on-year and 15.8% quarter-on-quarter.
Production was restricted in early January due to the entire plant closure and did not resume until mid-January 2022, but Ravensthorpe has now delivered 4,743 tonnes of nickel, up from about 1,900 tonnes in the fourth quarter of last year, mainly because the mine has benefited from high grades and recovery from the Shoemaker Levy project. While Ravensthorpe faced similar inflationary pressures as the company's other mines, as well as higher labor costs, cash costs for C1 nickel declined from $10.93 per pound in the fourth quarter of 2021 to $6.78 in the first quarter of 2022 due to higher production and sales volumes.
Ravensthorpe nickel production guidance for 2022 remains unchanged at 25,000-30,000 mt. Nickel cash cost guidance was raised, with C1 cash cost range rising to $6.25- $7.00 / lb and AISC1 cash cost range rising to $7.50- $8.50 / lb.
The specific production and sales volume are shown in the following table:
