The Barrick Gold Corporation was inaugurated by the President of Zambia, His Excellency Hakainde Hichilema, accompanied by members of his cabinet. The feasibility study for the super pit expansion is expected to be completed by the end of the year, paving the way for construction to begin in 2025. Once completed, the $2 billion project1 .4 will transform Lumwana into a long-term, high-yield copper producer, ranked among the top 25 producers1 and a Tier 12 copper mine.
The expansion involves first doubling the throughput of the existing processing circuit and then significantly increasing extraction volumes. The plant’s throughput will increase from the current 27 million tonnes to 52 million tonnes, which will double the mine’s annual copper production from 120 kt to 240 kt per year on average over the life of the mine. life of the mine. The expansion of the processing plant is supported by a ramp-up in total mining volumes, which are expected to increase gradually year on year, from 150 million tonnes in 2025 to around 240 million tonnes in 2028, then to a average rate of 290 million tonnes per year from 2030.
Speaking at the groundbreaking ceremony, which was also attended by the Barrick Board of Directors, Mark Bristow, Barrick President and CEO, said one of the critical elements of the Super Pit’s focus was on creating a lasting legacy through the development of local capacity in the region, which would benefit local communities and businesses throughout the construction and operation phases. The expansion will require approximately 550 additional workers over the next five years to support the ramp-up and an additional 2,500 construction workers over a three-year period through 2028.
