Nickel, a key metal in lithium rechargeable batteries, stainless steel manufacture and other alloys used in jet engines has put Zambia on the international map as First Quantum Minerals (FQM) on 26 July shined the sun on the continents largest Nickel deposit situated in Kalumbila on the north western part of the Southern African nation. This area is dubbed the Copperbelt of Africa, neighboring the Democratic Republic of Congo (DRC) studded with key green metals.
The ceremony was officiated by Zambia’s head of state Hakainde Hichilema in the company of mines minister Paul Kabuswe who were met by FQM Chief Executive Officer Tristan Pascal. This investment marks the actualization of the commitments that FQM had echoed ahead of the mining indaba in addition to the $1.3billion copper mine expansion.
“We have targets as a government to achieve metal production. On copper we are specific, on other metals we may not be but we have targets. We will work with many and all that love progress that will create jobs, reduce poverty to deliver household incomes,” President Hichilema said.
“The enterprise project will position Zambia in the top 10 global producers of nickel and number one on the continent,” Chief Executive Officer Tristan Pascal said.
The nickel mine investment is part of brownfield initiative with potential to spur production to 30,000 metric tons annually with the first 5000-10,000 metric tons targeted for 2023. This will be part of the enterprise nickel sulphide operation located 12 kilometers northwest of the sentinel copper mine. The said project has proven and probable reserves of 35 million metric tons of ore at 0.99% nickel with an existing 4Mtpa nickel circuit previously built as part of the sentinel processing complex.
Zambias head of state his excellency Hakainde Hichilema officiates at the ground breaking ceremony of the FQM nickel mine in Kalumbila.
The nickel mine is expected to create 700 full time jobs with a far fetching beneficiation value chain.
Traditional leaders called for the state to review its mining policy to ensure that at least 15% of the proceeds of the mining firms remain in the host districts as this will help address some of the key challenges faced.
Nickel has been on a price rally and currently trades for $22,250 a metric ton on the London Metal Exchange (LME) currently trading.
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