The first quantum Enterprise nickel project is expected to be put into production by the end of the year.

First Quantum Mining (TSX: FM) has three advanced exploration projects: the Haquira copper-molybdenum project in Peru, the Taca Taca copper-molybdenum gold project in Argentina and the Enterprise nickel project in Zambia.

In 2010, through the acquisition of Antares Minerals, the company owns a 100% stake in the Haquira project, 75km southwest of Cusco. The total measured and indicative resources of Haquira are 569 million tons, the copper grade is 0.56%, the inferred resources are increased by 406 million tons, and the copper grade is 0.52%.

The Taca Taca project is also 100% owned and was acquired through a subsidiary of Lumina Copper in 2014. According to the company, the porphyry deposit is suitable for conventional large-scale open-pit mining and is processed in a SAG- ball mill for pebbles crushing, regrinding and flotation. The first volume subsidiary is carrying out the logistics of electricity, water supply, freight and product transportation.

The latest resource assessment for Taca Taca, completed in March 2021, outlines 2.2 billion measurements and indicative tonnage, with a copper grade of 0.43%, 0.09g of gold and 0.012% of molybdenum per ton, containing 20.9 billion pounds of copper, 283.2 million pounds of molybdenum and 6.1 million ounces of gold. The inferred resources are 716.9 million tons, copper grade 0.31%, molybdenum grade 0.009%, gold grade 0.05g, metal content 4.85 billion pounds of copper, 65000 tons of molybdenum and 1.2 million ounces of gold. Among these resources, there are 1.8 billion tons of proven and possible reserves, with a copper grade of 0.44%, molybdenum grade of 0.012% and gold grade of 0.09g per ton.

In Zambia, the Enterprise project has a separate orebody that will share operations and infrastructure with first Quantum's Sentinel mine, approximately 12 km away. The project has been licensed and will be put into production by the end of this year.

Enterprise's resources include primary and non-primary sulphide mineralization. There are measured and indicative resources of 37.7 million tons of nickel with a grade of 1.03% and inferential resources of 9.3 million tons of nickel with a grade of 0.71%. Within the scope of resources, by the end of 2020, the total confirmed and possible reserves are 37.7 million tons, with a nickel content of 0.93% in primary ores and 0.44% in non-primary ores.

First Quantum is one of the world's top 10 copper producers, producing 778911 tons of red metal in 2020. The company has eight mines in operation. Kansanshi and Sentinel, in Zambia, Cobre Panama, in Panama, Ravensthorpe, in Australia, Cayeli, in Turkey, Cobre Las Cruces, in Spain, Pyhasalmi, in Finland and Guelb Moghrein in Mauritania.

First Quantum Minerals has a market capitalization of $14.6 billion.