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Barrick Gold Corporation has reiterated its commitment to Zambia’s economic development, contributing over $3.7bn to the nation since 2019. In 2024 alone, its Lumwana operations added $887 million to the economy through taxes, royalties, salaries, and procurement of goods and services.
Speaking from Lumwana on Sunday, Barrick President and CEO Mark Bristow said, ‘Our operations in Zambia are not just about mining but about contributing to the country’s long-term growth. Lumwana is a cornerstone of this commitment, and we are proud to be one of Zambia’s top five taxpayers.’
Empowering local businesses
In 2024, 72 percent of Lumwana’s $906 million spent on goods and services was directed to Zambian suppliers and contractors, bringing the total local spend to $2.5 billion since 2019.
‘Our focus on local procurement ensures that the benefits of our operations are shared with the Zambian people,’ Bristow said. ‘We are helping build capacity within the country, particularly through our Business Accelerator Programme, which targets 150 SMEs to support our upcoming Superpit expansion.’
Lumwana expansion to double copper production
Barrick’s ambitious Lumwana Superpit expansion aims to double copper production to a life-of-mine average of 240,000 tonnes annually by 2028. The project will create 2,500 construction jobs and 550 permanent roles, marking a significant boost to local employment.
To meet workforce demands, the company is expanding its TEVETA-accredited training centre to equip local workers with the skills required for mining and related industries. ‘Currently, 99 percent of our employees are Zambian nationals,’ said Bristow. ‘This reflects our commitment to sustainable workforce development.’
Barrick is also working to transform the Kalumbila District, home to the Lumwana mine, into an economic hub. Plans include constructing new housing in Manyama town, an industrial supplier park, and an airport expected to be operational by 2025.
‘We are creating an ecosystem where mining catalyses broader economic development,’ Bristow stated. ‘The infrastructure we are building aligns with Zambia’s integrated development strategy and will benefit communities for generations to come.’
Barrick is addressing Zambia’s power issues in collaboration with ZESCO, the national electricity provider. Since September 2024, Lumwana has implemented co-generation initiatives to reduce its reliance on the national grid.
‘A sustainable power supply is crucial for the mining sector and communities alike,’ Bristow noted. ‘Our joint efforts to upgrade the northwestern power corridor will help alleviate Zambia’s energy challenges.’
A legacy of growth
Barrick’s commitment to Zambia extends beyond mining operations. Its focus on local procurement, workforce development, and infrastructure is creating a lasting economic legacy.
‘We are not just mining copper; we are helping Zambia achieve its ambitious target of 3 million tonnes of copper production by 2031,’ Bristow added. ‘This is a partnership for prosperity.’
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