Barrick Advances $2B Lumwana Expansion Doubling Copper Output

Barrick Mining Corporation is advancing its $2 billion Super Pit Expansion Project at the Lumwana mine in Zambia, aiming to double copper production to 240,000 tonnes annually and establish the site as a Tier One copper operation. This expansion supports Zambia's Mining and Minerals 2031 policy and includes infrastructure improvements such as a new processing plant, a power transmission framework developed with ZESCO, and a regional airstrip. Since 2019, Lumwana has contributed over $4 billion to Zambia's economy, with 79% of procurement spent locally and 98% of its workforce comprised of Zambian nationals, highlighting Barrick's commitment to local economic empowerment. The project also emphasizes environmental sustainability through a REDD+ forest conservation program covering 300,000 hectares, aimed at generating carbon credits and promoting biodiversity. Barrick’s CEO Mark Bristow described the mine’s transformation from an underperforming asset to a strategic cornerstone for both Barrick and Zambia's development agenda. The Lumwana expansion is on track to become a globally significant copper mine supporting regional economic growth and sustainable development.