Barrick Expands Gold and Copper Ventures in the DRC

Barrick, inspired by Kibali’s success as Africa’s largest gold mine,…


Barrick, inspired by Kibali’s success as Africa’s largest gold mine, is prepared to invest in new gold and copper opportunities in collaboration with the government of the DRC, according to President and Chief Executive Mark Bristow.

Barrick Expands Gold and Copper Ventures in the DRC
Kibali is on track for another value-creating year on the back of a strong production performance. It is also well set to replace the ounces that were being depleted by mining with more of the same high quality. Image Credit: Barrick Gold Corporation.

During a media briefing at the mine site, Bristow expressed that Kibali was poised for another year of generating value due to its robust production performance. The mine was well-prepared to replenish the extracted ounces with more high-quality resources.

Kibali has transformed what was previously the disadvantaged north-east region of the country into a new economic frontier and a flourishing commercial hub. Of our $5 billion investment in the DRC, more than half has been spent with local contractors and suppliers, many of whose growth into substantial businesses we have promoted by enhancing their commercial and technical skills and providing them with the opportunities to exercise these. Kibali’s third hydropower station, for example, was built by an all-Congolese team.

Mark Bristow, President and Chief Executive, Barrick Gold Corporation

Kibali recently announced a collaboration with ARSP, the public regulator responsible for overseeing the country’s subcontracting sector. This partnership has already led to various initiatives, further enhancing Kibali’s leading local content strategy in the industry.

Kibali will continue its shift to renewable energy in the interim by putting a 16 MW solar plant and related batteries into service in 2025. The mine will run entirely on renewable energy during the six-month rainy season, bringing the plant’s use of renewable energy from 81% to 85%.

As part of its dedication to preserving biodiversity, Kibali has initiated a feasibility assessment in partnership with ICCN to explore the possibility of introducing more white rhinos into Garamba National Park.

Source: https://www.barrick.com/English/home/default.aspx



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