Barrick CEO wants to search for more copper in Zambia and Congo
KALUMBILA - Barrick Gold is keen to explore for more copper deposits in Zambia and Democratic Republic of Congo as the miner seeks to expand its presence on the African copperbelt, its CEO said on Friday.
The world's No. 2 gold miner wants to explore for deposits of the metal in southern parts of Congo, while expanding and extending the life of its Lumwana mine in Zambia, CEO Mark Bristow said.
"We are looking at exploration opportunities across the country just as we are looking for exploration opportunities in southern Congo," Bristow said during a briefing at Lumwana mine.
Barrick is considering plans to develop Lumwana mine, which currently produces about 267 000 metric tons of copper into a tier one asset as well as to extend the life of the operation to 2060.
Zambia, where Barrick has its Lumwana mine, is Africa's second-largest copper producer, after its northern neighbour Congo.
Barrick plans to spend more to build Lumwana into a bigger operation, Bristow said, declining to provide figures.
The CEO declined to comment on market speculation that his company was interested in First Quantum Minerals but said Barrick would adopt a cautious approach to doing deals in the sector.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation