Title: Kibali Goldmines: A significant increase in gold production in Africa
Introduction :
Kibali Goldmines, Africa’s largest gold mine, recently announced a significant increase in production in the last quarter. This performance is in line with its growth plan and the mine is on track to achieve its annual objectives. The Chairman of the Board of Kibali Goldmines, Dr. Mark Bristow, stressed that the results of exploration operations show sufficient reserves to replace those depleted by operations this year.
A ten-year plan in sight:
CEO of Barrick Gold Corporation, managing shareholder of Kibali Goldmines, Dr Mark Bristow, revealed that the mine, which is celebrating its tenth anniversary, is currently implementing a business plan for the next decade. He said Kibali remains one of the top mines in Barrick’s Tier I portfolio, which is capable of producing over 500,000 ounces of gold at a cost below industry average for at least 10 years. years. This world-class mine derives much of its energy from its three hydroelectric power stations, located on the Kibali and Nzoro rivers.
A focus on renewable energies:
In an effort to be sustainable and reduce the carbon footprint, Kibali Goldmines plans to build a 16 megawatt capacity solar power plant. This plant aims to ensure a constant production of electricity during the dry season in the Democratic Republic of Congo (DRC). This initiative will increase the mine’s share of renewable energy from 79% to 88% of the energy grid, reinforcing its commitment to environmental protection.
Economic and social benefits:
Beyond its commercial success, Kibali Goldmines also has a positive impact on local communities and the region’s economy. According to Dr Bristow, the mine has invested US$4.6 billion in the country in the form of dividends, royalties and taxes over the past 10 years. By prioritizing local suppliers and contractors, Kibali has helped inject $2.5 billion into the national economy. Additionally, Barrick has supported Garamba National Park, working to conserve biodiversity and successfully reintroducing white rhinos to the region.
Conclusion :
Kibali Goldmines’ success in gold production and involvement in social and environmental development makes it an example of a successful partnership in the DRC. With an increase in production and sufficient reserves to ensure the continuity of mining operations, the mine is ready to deploy its new ten-year plan