KIBALI DRIVES PARTNER-BASED DEVELOPMENT IN DRC
AFRICAN BUZZ •
KIBALI DRIVES PARTNER-BASED DEVELOPMENT IN DRC
Barrick
The mutually beneficial partnership between Kibali and its local stakeholders demonstrates that it ’ s possible to build and operate a successful , world-class mine , run by host country nationals , in one of Africa ’ s most remote corners .
Kibali went into production 10 years ago and having grown into Africa ’ s largest gold mine , it has opened a new mining frontier in the DRC and stimulated the development of a thriving regional economy in the country ’ s North-East province .
In March , Mark Bristow , Barrick president and chief executive , noted the above and said that a mutually beneficial partnership between the company and its local stakeholders – notably the government , contractors , service providers , employees and the community – had demonstrated that it was possible to build and operate a successful , world-class mine run by host country nationals in one of Africa ’ s most remote corners .
In the 13 years since the acquisition of the property , which became Kibali , Barrick has invested more than USD4.6-billion in the DRC , with payments to local contractors and suppliers alone amounting to almost USD2.4-billion ; USD1.4-billion going to the government in the form of royalties , taxes and permits ; salaries amounting to USD621-million ; and the investment of USD196-million in infrastructure development and community support .
“ Kibali has multiple partnerships with local businesses , many of which we have actively mentored , such as the all-Congolese team that built the mine ’ s Azambi hydropower station ,” Bristow said .
“ Kibali ’ s three continuously upgraded hydropower stations and their battery back-up system have put it in the lead of the Barrick group ’ s green energy drive . At present , approximately 80 % of the mine ’ s power requirement is provided by renewable energy sources and this will rise when the planned new solar plant is commissioned in 2025 , further reducing Kibali ’ s carbon footprint as well as its costs .”
For the fourth successive year , exploration more than replaced the gold that Kibali mined in 2022 , extending the mine ’ s Tier
One production profile to 2033 and growing reserves to a level equivalent that in the original 2010 feasibility study , despite producing more than 6.4 million ounces of gold since commissioning . 1 It continues to explore for additional reserves to replace depletion at Kibali and for new growth opportunities elsewhere in the DRC .
The mine also continues to invest in the recruitment and training of Congolese nationals , who already account for 95 % of its workforce and 76 % of its leadership , with special emphasis on the skills development of potential managers and technicians .
Kibali has a particular interest in the future of Africa ’ s biodiversity and will write a new chapter in its long support for the DRC ’ s Garamba National Park with the introduction of a sustainable population of white rhinos in partnership with African Parks and the DRC people . •
References :
1 . On a 100 % basis – refer to the Technical Report on the Kibali Mine , Democratic republic of the Congo , dated 18 March 2022 , and filed on SEDAR at www . sedar . com and EDGAR at www . sec . gov on 18 March 2022 .
The mine also continues to invest in the recruitment and training of Congolese nationals , who already account for 95 % of its workforce . www . africanmining . co . za African Mining Publication African Mining African Mining • June 2023 • 7