BARRICK Gold Corporation has announced significant new gold discoveries close to Kibali, Africa’s largest gold mine, located in the Democratic Republic of Congo (DRC). These discoveries, within trucking distance of the processing plant, are set to extend the mine’s life and enhance future output, according to Barrick President and CEO Mark Bristow.
The newly defined ARK target, located just four kilometres from the plant, could potentially yield a high-grade, multi-million-ounce deposit with further exploration. This, alongside ongoing KCD downdip extensions, supports Kibali’s ability to continually replace depleted reserves with high-quality gold ounces, Bristow added. Kibali is on track to meet its production and cost targets for the year and remains one of the continent’s most cost-efficient gold producers.
The Kibali mine has been instrumental in driving regional economic growth in DRC’s North East region over the past 15 years. By partnering with local businesses and communities, Barrick has spent $2.87bn with local contractors and suppliers. The company is currently collaborating with the DRC government to expand its local content initiatives, benefitting over 500 local companies. Additionally, 41 out of 44 community development projects have been completed, with further projects nearing completion.
Kibali’s efforts also extend to environmental sustainability. The mine is preparing to add 64 white rhinos to Garamba National Park, following the successful relocation of 16 rhinos last year. In terms of energy, the completion of a 16-megawatt solar plant will increase renewable energy use at the mine from 79 percent to 85 percent, with the potential to be entirely renewable for six months each year.
