The Munali Nickel Mine in Mazabuka, Southern province, is due to reopen this year.
The mine, which was shut down three years ago will reopen under new investors, Consolidated Nickel Mine, a British firm.
Company Chief Executive Officer, Simon Purkiss has disclosed the reopening of the mine at the 2017 Zambia Mining Investment Forum, which is taking place in London.
Mr. Purkiss said his company is just finalising a 40 million US dollars financing agreement operation.
He has explained that the hope is to extend the lifespan of the mine by 10 years.
Mr. Purkiss has added that all the initial work to prepare the mine for reopening have been done.