Title: Kibali Goldmines: record production and a new ten-year plan in preparation
Introduction :
The Kibali gold mine, located in the Democratic Republic of Congo, experienced a significant increase in production during the last quarter. This is part of its growth plan and positions it on the right track to achieve its annual objectives. The Chairman of the Board of Kibali Goldmines, Dr. Mark Bristow, announced the results at a press conference in Kinshasa. This world-class mine, managed by Barrick Gold Corporation, confirms its position among the best gold mines in Africa and is preparing to implement a new ten-year plan.
Increasing production and new reserves:
The exploration operations carried out by Kibali Goldmines have made it possible to discover new reserves which will make it possible to replace those depleted by the mining in progress. This result confirms the long-term viability of the mine and its potential to maintain production in the years to come. Dr. Mark Bristow stresses the importance of these reserves in pursuing Kibali Goldmines’ growth objectives.
A business plan for the next decade:
Building on its success over the past ten years, Kibali Goldmines is preparing to implement a new business plan for the next decade. This plan aims to consolidate the position of the mine among the best in the portfolio of Barrick Gold Corporation. The selection criteria for Barrick’s Tier I mines is the ability to produce more than 500,000 ounces of gold at a cost below the industry average for at least ten years. Kibali Goldmines meets these criteria and continues to strengthen its performance.
An environmentally friendly mine:
Kibali Goldmines is also committed to environmental protection. Most of the energy used by the mine comes from its three hydroelectric power stations, fed by the Kibali and Nzoro rivers. In order to ensure continuous energy production during the dry season, the mine also plans to build a solar power plant with a capacity of 16 megawatts. This initiative will increase the share of renewable energy at the mine from 79% to 88% of the energy grid.
A fruitful partnership:
Kibali Goldmines is proud of its commitment to the Democratic Republic of Congo and its local communities. Over the past ten years, the mine has contributed significantly to the country’s economy by investing US$4.6 billion in the form of dividends, royalties and taxes. In addition, Kibali favors Congolese suppliers and contractors, thus contributing to local economic development..
Conclusion :
The Kibali gold mine in the Democratic Republic of Congo continues to stand out for its record production and its commitment to sustainable development. With a new 10-year plan in the works, the mine is well positioned to maintain its place among Africa’s top gold mines. Its fruitful partnership with local communities and its environmental initiatives make it a key player in the Congolese mining sector.