Powerful Expansion Underway at Barrick's Lumwana Mine
All amounts are expressed in US dollars. The Super Pit Expansion Project at Barrick Mining Corporation's Lumwana mine is making significant strides, aiming to double copper production capacity to 240,000 tonnes annually. This remarkable initiative is reshaping the mine into a Tier One copper producer, reinforcing both Barrick's position in the global market and Zambia's long-term development goals.
Significant Economic Contributions
Barrick's president and CEO, Mark Bristow, highlighted the positive transformation of the Lumwana operation. Once a struggling asset, Lumwana has evolved into a critical component of Barrick’s copper portfolio and an economic pillar for Zambia. Since 2019, the mine has contributed over $4 billion to the Zambian economy through taxes, royalties, procurement, and wages.
A Commitment to Local Development
Notably, the project has prioritized local sourcing, with $3.4 billion designated for Zambian suppliers, which accounts for an impressive 79% of total procurement. In the first quarter of this year, a staggering 81% of procurement, valued at $177 million, was allocated to local contractors, demonstrating Barrick's commitment to community engagement. Additionally, 98% of the workforce at Lumwana consists of Zambian nationals, further integrating the mine into the local community.
Infrastructure and Strategic Developments
The ongoing expansion includes the construction of a new 50 million tonne per annum processing plant and essential infrastructure upgrades in collaboration with ZESCO. These improvements not only support the mine but also benefit the broader region. The Lumwana project aligns with Zambia's Mining and Minerals 2031 policy and supports a multi-faceted development plan, including the Manyama township and an industrial supplier park.
Investing in Education and Training
A new TEVETA-accredited training center is set to open, aimed at enhancing Zambia's mining skill base. This initiative is critical as the industry demands a well-trained workforce equipped to meet modern mining challenges.
Sustainability Efforts at the Forefront
Barrick is also driving one of the nation's most ambitious environmental projects, developing a REDD+ forest conservation program together with local chiefdoms and the Forestry Department. This initiative spans up to 300,000 hectares and aims to generate carbon credits while promoting biodiversity and sustainable livelihoods. Bristow asserted, "Lumwana is becoming a flagship for sustainable copper mining, demonstrating how industrial endeavors can coexist with environmental stewardship and community development."
Meeting Production Goals
Operationally, Lumwana is on track with its 2025 production goals. The strong first-quarter performance is supported by improved plant throughput and efficiency in open-pit operations. The mine continues to uphold high environmental standards, retaining ISO 14001 and 45001 certifications without any major environmental incidents reported.
Building Strong Partnerships for Growth
Barrick is not solely focused on expanding the mine; it is also committed to strengthening partnerships within the Zambian copperbelt, leveraging a newly signed Memorandum of Understanding with the Zambian government. Together, they aim to lay a foundation for long-lasting economic and social development in the region, ensuring that the benefits extend beyond the lifespan of the mine.
For inquiries related to Barrick, you may reach out to the following contacts:
Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
barrick@dpapr.com
Zambia Country Manager
Anthony Malenga
+260 977 730 513
Frequently Asked Questions
What is the Lumwana Super Pit Expansion Project?
This project involves significant upgrades to Barrick's Lumwana mine, with plans to double copper production to 240,000 tonnes annually.
How has Barrick contributed to the Zambian economy?
Since 2019, Barrick has contributed over $4 billion through taxes, local sourcing, and employment, directly benefiting the Zambian economy.
What are the sustainability initiatives at Lumwana?
Barrick is implementing a REDD+ forest conservation program and investing in local community development and training.
How much local procurement has been achieved at Lumwana?
Over 79% of the mine's procurement budget has been spent with Zambian suppliers, highlighting its commitment to local businesses.
What are the future goals for the Lumwana mine?
Barrick aims to enhance production efficiency, invest in sustainable practices, and foster strong local partnerships to ensure long-term economic benefits.
