Posted in | News | Gold | Mining Business

A Model for Sustainable Mining in Africa - Kibali Gold Mine

Mark Bristow, President and Chief Executive of Barrick, announced that Kibali, the largest gold mine in Africa, has become one of the most environmentally sustainable mines on the continent.

A new sprout grows on a transparent Earth. Image of environmental protection and a sustainable society

Image Credit: hika-j/Shutterstock.com

Kibali already gets a large portion of its electricity from its three hydropower plants. It is anticipated that the mine's overall renewable electricity supply will increase from 81% to 85% after the commissioning of a new 16-megawatt solar plant and additional battery energy storage infrastructure.

These facilities are intended to support hydropower supply during the region's dry season. For six months of the year, the mine's electricity demand will be fully satisfied by renewable energy.

Bearing in mind that Kibali is also a leader in automation, the mine is a real role model for mining in Africa. As a long-standing partner of the Democratic Republic of Congo (DRC), we built Kibali in the remote north-east of the country, opening up a new mining frontier and, in the process, also promoting the development of a flourishing local economy.

Mark Bristow, President and Chief Executive, Barrick Gold Corporation

Bristow said, “This partnership has been particularly beneficial for the DRC. Our total in-country investment to date in the form of royalties, taxes, dividends, and payments to local suppliers amounts to $4.7 billion. The implementation of community development projects supported by Kibali’s community development fund, which contributes 0.3% of revenue to such projects, continues with 44 new projects launched in 2023.

The mine’s new Cahier des Charges scheme, funded by Kibali to the tune of $8.9 million over five years, has also launched 11 projects, with seven nearing completion. We are also continuing our support for biodiversity with plans underway to introduce additional white rhinos to the Garamba National Park.

Mark Bristow, President and Chief Executive, Barrick Gold Corporation

Operationally, Kibali met its production guidance for 2023 and concurrently established a new annual throughput record. Furthermore, it is making significant progress in successfully replenishing the reserves extracted during the year.

Kibali serves as a noteworthy illustration of the outcomes attainable through dedication to collaborating with host countries and local communities. The company is poised to collaborate with the government to expand investments and advance development projects in the DRC.

Source: https://www.barrick.com/English/home/default.aspx

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