Kibali Goldmines announces a significant increase in its gold production during the last quarter, in line with its growth plan. The mine, which holds the title of the largest gold mine in Africa, is on track to meet its annual targets, according to the Chairman of the Board of Managers of Kibali Goldmines, during a press conference held in Kinshasa.
Dr. Mark Bristow, Chairman and CEO of Barrick Gold Corporation, managing shareholder of Kibali Goldmines, pointed out that the mine is in full deployment of its new business plan for the next decade. Kibali Goldmines is a Barrick Tier I mine, a category that includes mines capable of producing more than 500,000 ounces of gold at a cost below the industry average for at least 10 years.
To support its production, Kibali Goldmines derives much of its energy from its three hydroelectric power stations built on the Kibali and Nzoro rivers. In order to ensure constant energy production during the dry season, a solar power plant with a capacity of 16 megawatts is planned to be built. This would increase the mine’s share of renewable energy from 79% to 88% of the energy grid.
Beyond its economic impact, Kibali Goldmines also contributes to local development. The mine favors Congolese suppliers and contractors and has already injected $2.5 billion into the country’s economy in the form of dividends, royalties and taxes. Additionally, Barrick is supporting Garamba National Park by implementing biodiversity conservation measures, including reintroducing white rhinos to the park.
In conclusion, the Kibali gold mine records a significant increase in its gold production, confirming its position as the largest gold mine in Africa. With its new business plan for the next decade and its commitment to local development and environmental preservation, Kibali Goldmines and its managing shareholder, Barrick Gold Corporation, demonstrate their positive contribution to the economy and the environment