Nickel manganese cobalt battery project financing options in Zambia 2030

Does Zambia produce nickel & manganese sulfate?

Production of nickel and manganese sulfate is less certain, however. Zambia produced around 4,000 t of nickel in 2022. First Quantum’s large nickel mine, Enterprise, started production in Zambia this year, which will add a massive 30,000 t a year on average.

Will Zambia meet its own nickel production needs?

First Quantum’s large nickel mine, Enterprise, started production in Zambia this year, which will add a massive 30,000 t a year on average. Nevertheless, this volume may still be insufficient for Zambia to meet the precursor plant’s needs on its own even if refining facilities were constructed and all production was supplied to the plant.

Can China influence cobalt production in the DRC and Zambia?

China’s dominance of cobalt production in the DRC and Zambia, including through state-owned companies, means it could have a significant influence on the precursor plant, but its role is uncertain. Congolese and Zambian civil society actors are concerned about the lack of information and limited stakeholder consultation.

How much is a cobalt project worth in Zambia?

The project has a net present value (NPV) of $166 million and an internal rate of return (IRR) of 47%, based on a long-term copper price of $3 per pound and a cobalt price of $20 per pound. I Zambia has significant potential to increase its cobalt production in the coming years, as new projects come online and existing ones resume operations.

Which countries can supply battery grade manganese & nickel?

Gabon and Madagascar have been cited as potential suppliers of battery grade manganese and nickel, respectively. Other countries, such as Tanzania, Zimbabwe and South Africa, are also possibilities.

What is the Pamoja critical minerals Forum?

In November 2023 they established the Pamoja Critical Minerals Forum to monitor and engage the governments on these plans and ensure that the plans reflect community voices. Based on available information, we see four issues around the precursor initiative that the two governments should consider in 2024: