Name of the Project
Lumwana copper mine expansion.

Location
Zambia.

Project Owner/s
Barrick Gold Corporation.

Project Description
The project will elevate this once-unprofitable operation into the front rank of copper producers.

The expansion will increase production from 150 000 t of copper, at a 26-million- to 29-million-tonne-a-year process plant production rate, to an estimated 240 000 t of copper, at a 50-million-tonne-a-year production rate.

The project will have an estimated 36-year mine life.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
$2-billion.

Planned Start/End Date
The project’s accelerated work programme is targeting completion of the full feasibility study by the end of 2024, bringing the expected and expanded process plant production forward to 2028.

Latest Developments
Engineering, construction and asset management firm Lycopodium has been awarded a feasibility study and basic engineering contract, valued about A$19-million.

Lycopodium says the feasibility study will be completed by the end of 2024.

Key Contracts, Suppliers and Consultants
Lycopodium (feasibility study and basic engineering contract).

Contact Details for Project Information
Barrick Gold Corporation investor and media relations, Kathy du Plessis, tel +44 20 7557 7738 or email barrick@dpapr.com.