Barrick Gold Partners with Metso for $78 Million Copper Mine Expansion in Zambia
Canadian metals producer Barrick Gold Corporation has awarded a $78 million contract to Finnish company Metso for the supply of copper concentrator equipment for its Lumwana Copper Mine in Zambia. The agreement, announced on September 30, includes key equipment for grinding, flotation, thickening, feeding, and filtration, all of which will be deployed at Lumwana, one of Africa's largest copper mines.
Markku Teräsvasara, president of the minerals business area and deputy CEO of Metso, expressed pride in being chosen as a strategic partner for the project. He emphasized that the copper concentrate production process at Lumwana is designed with sustainability and production efficiency in mind, with most of the equipment coming from Metso's environmentally focused "Planet Positive" offering.
Lumwana, located in Zambia’s North-Western region, plays a key role in Barrick's growing copper portfolio. The mine's expansion is expected to help meet the rising global demand for copper, which is essential for the production of renewable energy technologies as the world shifts away from coal-based energy.
The expansion will transform Lumwana into one of the world’s major copper mines, with an annual production target of 240,000 tonnes. This increased output will contribute to Zambia’s goal of producing 1 million tonnes of copper annually by 2026 and 3 million tonnes by 2033, up from 698,566 tonnes in 2023.
