Kibali Goldmines, Africa’s largest gold mine, recently announced a significant increase in production in the last quarter. This increase is part of its growth plan and the mine is on track to meet its annual targets. This announcement was made by the Chairman of the Management Board of Kibali Goldmines during a press conference in Kinshasa.
Dr. Mark Bristow, Chairman and CEO of Barrick Gold Corporation, managing shareholder of Kibali Goldmines, highlighted that the mine is implementing its business plan for the next decade. He also confirmed that Kibali Goldmines is one of the best mines in Barrick’s portfolio, capable of producing more than 500,000 ounces of gold at a cost below the industry average for at least 10 years.
This success of Kibali Goldmines is largely due to its use of renewable energy sources. The mine derives most of its energy from its three hydroelectric power stations built on the Kibali and Nzoro rivers. In addition, in order to guarantee constant energy production during the dry season in the Democratic Republic of the Congo, the mine plans to build a solar power plant with a capacity of 16 megawatts.
Apart from its economic contribution, Kibali Goldmines has also had a positive impact on community development in the DRC. According to 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. Additionally, Kibali Goldmines favors Congolese suppliers and contractors, who have already received $2.5 billion in contracts from the mine.
In terms of environmental responsibility, Kibali Goldmines has implemented initiatives to reduce freshwater withdrawals from the Kibali River. The mine has also supported Garamba National Park by helping to conserve its biodiversity, including successfully reintroducing white rhinos, which had not been seen in the park for 13 years.
The success of Kibali Goldmines demonstrates a fruitful partnership between Barrick, the Congolese government and local communities. It also demonstrates the potential for economic and environmental development that responsible mining can bring to Africa