Kibali Goldmines, Africa’s largest gold mine, recently announced a significant increase in production in the last quarter, in line with its growth plan. This news was communicated by the Chairman of the Management Board of Kibali Goldmines during a press conference in Kinshasa. According to Dr. Mark Bristow, the results of exploration operations have demonstrated sufficient reserves to ensure the replacement of the reserves depleted by this year’s mining.
Barrick Gold Corporation, the managing shareholder of Kibali Goldmines, also confirmed that the mine is in full implementation of its business plan for the next decade. It is considered one of the top mines in Barrick’s Tier I mine portfolio, capable of producing over 500,000 ounces of gold at a cost below the industry average for at least 10 years.
Kibali Goldmines derives much of its energy from its three hydroelectric power stations built on the Kibali and Nzoro rivers. However, to ensure constant electricity production during the dry season in the Democratic Republic of Congo (DRC), the mine plans to build a 16 megawatt solar power plant. This will increase the mine’s share of renewable energy from 79% to 88% of the energy grid.
Apart from its economic performance, Kibali Goldmines has also had a positive impact on the development of local communities in the DRC. The company favors Congolese suppliers and contractors, which has allowed it to return $2.5 billion in revenue to local players. Additionally, Barrick is committed to supporting Garamba National Park, contributing to biodiversity conservation and successfully reintroducing white rhinos to the park.
The success of Kibali Goldmines thus demonstrates a fruitful partnership between Barrick, the DRC government and local communities. Thanks to its economic performance and its commitment to sustainable development, the mine continues to position itself as one of the main players in the mining industry in Africa