Kibali Gold drives sustainable value creation through partnerships

Kibali derives most of its energy needs from its three hydropower stations with plans for a 16MW solar farm with a battery energy storage system to augment the hydropower supply during the dry season well under way.

Kinshasa, Democratic Republic of Congo – The planned third-quarter ramp-up at Kibali, Africa’s largest gold mine, has positioned it strongly to achieve its production guidance for the year, maintaining Barrick’s track record of delivery in the Democratic Republic of Congo.

Speaking to journalists here, president and chief executive Mark Bristow said Kibali was also well on its way to again replace the ounces mined during the year, with positive results from the down plunge at Lodes 3000 and 5000 and good progress with the development of the Lode 11000 decline expected to yield further resource to reserve conversions.

Kibali derives most of its energy needs from its three hydropower stations with plans for a 16MW solar farm with a battery energy storage system to augment the hydropower supply during the dry season well under way. Following completion of this project, the mine will run entirely on renewable energy for six months of the year reducing its greenhouse gas emissions by 19.7kt CO2e annually.

Part of the World Gold Council’s new documentary, GOLD: A Journey with Idris Elba, released on YouTube today, was filmed at Kibali. Bristow said the mine was driving sustainable value creation through local partnerships, spending over $180 million with Congolese suppliers in the year to date and continuing to invest in community development programs.

“As Barrick has shown, responsible mining has the unique ability to make a transformative impact on the economies of developing and underdeveloped countries. It is a force for good for all its stakeholders, especially host countries and communities, and that force is amplified when there is a genuine partnership between miners and governments,” he said.

These include Cahier des Charge, part of our social development program aligned with the Mining Code, which has launched eleven projects this year with seven nearing completion. Barrick’s investment in this program will total $8.9 million over five years. Additionally, the mine’s community development fund, which contributes 0.3% of revenue to projects, now has 44 projects under its wing.

Kibali also continues to lead the way in biodiversity, with an assessment underway for the transfer of a further 30 white rhinos to the Garamba National Park, where 16 were re-introduced earlier this year by a Barrick-led initiative.