Barrick Gold Begins $500 Million Expansion of Lumwana Copper Mine in Zambia

Barrick Gold has initiated the expansion of its Lumwana copper mine in Zambia's Kalumbila District, with an investment of USD 500 million earmarked for the project's first phase. The expansion will focus on infrastructure upgrades, operational improvements, and the introduction of advanced mining technologies. The total cost of the project is expected to reach USD 2 billion, although the final figure will be confirmed once the feasibility study is completed by the end of 2024. Construction is scheduled to begin in 2025.

Zambian President Hakainde Hichilema officiated the groundbreaking ceremony for the Lumwana Mine Super Pit, which is expected to create 3,000 jobs during construction and provide 1,500 long-term positions. Barrick’s expansion aims to increase Lumwana’s copper production from its current 140,000 tonnes annually to 240,000 tonnes over the extended 30-year lifespan of the mine.