Title: Kibali Goldmines: Rising production and a promising ten-year plan
Introduction :
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 puts the mine on track to achieve its annual objectives. Kibali Goldmines Chairman of the Board of Managers, Dr Mark Bristow, noted that the results of exploration operations demonstrate sufficient reserves to replace depleted reserves this year.
An ambitious business plan for the next decade:
Chairman and CEO of Barrick Gold Corporation, managing shareholder of Kibali Goldmines, Dr Mark Bristow, revealed that the mine is in full implementation of its business plan for the next decade. This news confirms Kibali Goldmines’ position as one of the top mines in Barrick’s portfolio, with the ability to produce over 500,000 ounces of gold at a cost below industry average for at least 10 years.
Responsible use of natural resources:
Kibali Goldmines is known for its commitment to renewable energy. Most of its energy is produced by its three hydroelectric power stations, located on the Kibali and Nzoro rivers. To ensure constant energy production during the dry season in the Democratic Republic of Congo, the mine is also planning the construction of a 16 megawatt solar power plant. This initiative will increase the mine’s share of renewable energy from 79% to 88% of the energy grid.
A positive impact on local communities and the environment:
In addition to its economic performance, Kibali Goldmines also has a significant impact on the development of the region and its communities. Over the past 10 years, the mine has invested US$4.6 billion in the country, in the form of dividends, royalties and taxes. In addition, Kibali Goldmines prioritizes local sourcing, thus favoring Congolese suppliers and contractors.
With regard to environmental preservation, Kibali Goldmines continues its initiatives to reduce freshwater withdrawals from the Kibali River. The mine has also provided significant support to Garamba National Park, contributing to biodiversity conservation. Recently, Kibali Goldmines took the initiative to reintroduce white rhinos to the park, a species that had been extinct for 13 years.
Conclusion :
Kibali Goldmines continues to shine as Africa’s largest gold mine. With an increase in production and a promising ten-year plan, the mine is positioning itself as a benchmark in the mining industry. Its commitment to renewable energy, the development of local communities and the preservation of the environment testify to its positive impact on the region