Africa-Press – Zambia. Barrick Gold Corporation, the owners of Lumwana Mine located in Kalumbila District, North Western Province, have revealed their ambitious plans for a significant investment of two billion dollars into the mine. The primary aim of this substantial capital infusion is to double the mine’s annual copper production while extending the plant’s operational lifespan.
This momentous investment aligns with the government’s strategic vision of increasing the annual copper production capacity to an impressive three million tonnes per annum.
Mark Bristow, President of Barrick Gold Corporation, has shared his excitement about this substantial commitment. He has emphasized that the two billion dollar investment in Lumwana Mine is a dedicated effort to elevate the annual copper production to an estimated 240 thousand tonnes per annum.
Bristow envisions this investment as a game-changer that will transform Lumwana Mine into a globally competitive and highly profitable copper producer. With this level of funding, the mine is poised to reach new heights and reinforce its position on the world stage.
In a statement issued to ZNBC News by Barrick Gold Corporation, Mr. Bristow expressed confidence in the accelerated work program’s ability to complete the full feasibility study by the end of 2024. Furthermore, the investment is expected to extend plant production all the way to 2028, solidifying Lumwana Mine’s role as a cornerstone of Zambia’s copper industry.
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