Barrick Gold’s Kibali Mine in the Democratic Republic of Congo on Track to Achieve Production Guidance
Barrick Gold Corporation’s Kibali mine, Africa’s largest gold mine located in the Democratic Republic of Congo, is well-positioned to achieve its production guidance for the year. The third-quarter ramp-up at Kibali has set the stage for a successful year, maintaining Barrick’s track record of delivery in the region.
Mark Bristow, the president and chief executive of Barrick Gold, highlighted the positive results from the down plunge at Lodes 3000 and 5000, as well as the progress made in the development of the Lode 11000 decline. These developments are expected to contribute to further resource to reserve conversions, ensuring the replacement of mined ounces.
Kibali is also making significant strides in its renewable energy efforts. With three hydropower stations already meeting most of its energy needs, the mine is now in the process of constructing a 16MW solar farm with a battery energy storage system. Once completed, Kibali will run entirely on renewable energy for six months of the year, reducing its greenhouse gas emissions by 19.7kt CO2e annually.
The mine’s commitment to sustainability extends beyond energy initiatives. Kibali is actively driving sustainable value creation through local partnerships and community development programs. In the year to date, over $180 million has been spent on Congolese suppliers, and investments in community programs continue to make a positive impact.
Barrick’s dedication to responsible mining is showcased in its involvement with the World Gold Council’s new documentary, “GOLD: A Journey with Idris Elba.” Part of the documentary was filmed at Kibali, highlighting the mine’s contribution to the local economy and its commitment to sustainable practices.
Furthermore, Kibali is leading the way in biodiversity conservation. The mine, in collaboration with a Barrick-led initiative, has reintroduced white rhinos to the Garamba National Park. An assessment is currently underway to transfer an additional 30 white rhinos to the park, further enhancing biodiversity in the region.
Barrick Gold Corporation remains committed to the Democratic Republic of Congo and sees responsible mining as a force for positive change in developing and underdeveloped countries. The company’s ongoing investments and partnerships demonstrate its dedication to creating sustainable value for all stakeholders.
For more information, please contact DRC country manager Cyrille Mutombo at +243 812 532 441 or visit Barrick Gold’s website at www.barrick.com.
Cautionary Statement on Forward-Looking Information:
This press release contains forward-looking statements regarding Kibali’s production guidance, reserve replacements, renewable power strategy, local procurement initiatives, community programs, sustainability efforts, and growth opportunities. These statements are based on estimates and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially. Readers are advised to refer to the most recent Form 40-F/Annual Information Form filed by Barrick Gold Corporation for a detailed discussion of the factors underlying these forward-looking statements. Barrick Gold Corporation disclaims any intention or obligation to update or revise any forward-looking statements, except as required by applicable law.