Kibali Goldmines, Africa’s largest gold mine, reports a significant increase in production in the last quarter, in line with its growth plan. This announcement was made by the Chairman of the Management Board of Kibali Goldmines, during a press conference in Kinshasa. According to Dr. Mark Bristow, Chairman and CEO of Barrick Gold Corporation, managing shareholder of Kibali Goldmines, the results of exploration operations have shown sufficient reserves to replace those that will be depleted this year.
The Kibali mine, which is celebrating 10 years of operation, is in the process of implementing its business plan for the next decade. It is thus recognized as one of the best mines in Barrick’s Tier I portfolio, capable of producing more than 500,000 ounces of gold at a cost below the industry average for at least 10 years. To produce gold bullion, the mine relies heavily on its three hydroelectric power stations built on the Kibali and Nzoro rivers.
In the near future, Kibali Goldmines plans to build a 16 megawatt solar power plant to ensure constant energy production during the dry season in the Democratic Republic of Congo (DRC). This will increase the mine’s share of renewable energy from 79% to 88% of the energy grid, since Kibali Goldmines runs entirely on renewable energy during the rainy season.
In addition to its economic impact, Kibali Goldmines has also contributed to local development. The mine has paid US$4.6 billion to the Congolese government in the form of dividends, royalties and taxes over the past 10 years. It also promotes local procurement by favoring Congolese suppliers and contractors, who have so far received $2.5 billion in contracts from the mine.
This commitment to the DRC is also reflected in the mine’s support of Garamba National Park, contributing to the conservation of valuable biodiversity. Kibali Goldmines recently initiated the reintroduction of white rhinos to the park, where they had not been seen for 13 years. 16 rhinos have been successfully introduced, and 60 more are planned over the next three years.
The success of Kibali Goldmines, both economically and environmentally, demonstrates a strong partnership between Barrick, the Congolese government and local communities