Kibali Gold Mines held, on Tuesday, October 8 at the Memling Hotel in Kinshasa, its 54th quarterly press conference in front of the media, political actors from Haut-Uélé, subcontracting companies and associations benefiting from its partnership.
On this occasion, Barrick’s Chairman and CEO, Mark Bristow, announced “significant deposit discoveries near the plant”. For him, these deposit discoveries will “stimulate the growth of the Kibali mine, the largest gold mine in Africa, for a good number of years”.
The company also announced the consolidation of new research areas in gold and copper, thus expanding its mining portfolio in the DRC.
Speaking to journalists and local stakeholders, Mark Bristow argued that the newly defined “ARK” target, located 4 km from the processing plant, has the potential to provide, through further exploration, a high-grade deposit of several million ounces.
“This discovery, in addition to the depth extensions of KCD, will allow Kibali to continue to replace reserves depleted following mining with high-grade ounces.”
Currently, the Kibali Mine is on track to achieve its Tier 1 production and cost targets for the year 2024, cementing its position as one of the most profitable gold mines on the continent.
Likewise, Bristow explained that Kibali was a pioneer mine which, for 15 years, has catalyzed and promoted the growth of a regional economy in a very isolated area of the northeast of the DRC.
“This growth is supported through its multi-stakeholder partnership model involving local footprints and host communities,” the company’s press release says.
Note that to date, Kibali has already spent USD 2.87 billion in payments to local contractors and suppliers.
Moreover, Kibali is currently collaborating with the Government on a series of interventions aimed at strengthening its local content initiatives in the region, which will benefit more than 500 Congolese companies in the region.
In addition, 41 of the 44 projects selected by the Kibali Community Development Grant have been completed, while 9 of the 14 projects supported by the mine’s “specification” mechanism are close to being finalized.
On an environmental level, Kibali is committed to preserving biodiversity with a project aimed at relocating 64 white rhinos, in addition to the 16 already relocated the previous year in the Garamba National Park.
Finally, it should be noted that the mine plays an important role in the Barrick Group’s emissions reduction strategy. With the upcoming activation of its 16 megawatt solar power plant and a battery energy storage system, in addition to its three hydroelectric power plants already built, its renewable energy rate should increase from 79 to 85%, guaranteeing consumption of entirely renewable energy for six months of the year.
Amédée Mwarabu
