NYSE- and TSX-listed Barrick Gold says the Kibali gold mine’s investment in the Democratic Republic of Congo now exceeds $4-billion and has created a “thriving regional economy in a remote part of the country through partnering with and mentoring local entrepreneurs, uplifting host communities and upgrading essential infrastructure”.
At a media briefing at the mine on July 5, Barrick president and CE Mark Bristow indicated that Kibali was Africa’s largest gold mine and a “global leader in automation, sustainability initiatives, clean energy and skills training”.
“Thanks to Barrick’s policy of local employment and advancement, 94% of Kibali’s workforce, including its management, are Congolese nationals.
“It is now also driving the employment of women in the traditionally male-dominated mining industry through targeted recruitment campaigns and development programmes designed to equip them for rewarding careers at all levels of the organisation,” he enthused.
Kibali is on track to meet its full-year production guidance and has again achieved an injury-free quarter.
Its three hydropower stations are noted to be mitigating the impact of higher fuel prices and considerably reducing the mine’s carbon footprint.
Kibali’s gold reserves have grown net of depletion for three successive years, and ongoing conversion drilling is expected to continue this trend, despite the mine having produced in excess of 5.7-million ounces of gold to date.
Ongoing exploration is delivering new growth opportunities, with the potential to grow the mineral resource base beyond the original feasibility study, the company says.
Local sustainability projects include the construction of an aquaponics farm and the erection of a vocational and technical training centre to promote capacity building in the community.
Implementation of the cahier des charges mechanism has started, following its approval by the government.
This will add to the current commitment of investing 0.3% of revenue in community projects identified in consultation with the mine’s community development committees.
Kibali also continues to invest in the future of Africa’s biodiversity through its support for the Garamba National Park, which Barrick says has seen a considerable increase in the giraffe population and the near-elimination of elephant poaching.
It is also sponsoring a project for the reintroduction of white rhino into the park, noted as critical in the long-term campaign to protect this endangered species.