Barrick Fast-Tracks $2bn Lumwana Expansion to Boost Copper Output

The construction of the $2 billion Super Pit Expansion Project at Barrick Mining Corporation’s Lumwana operation is progressing rapidly, marking a major step in transforming the mine into a Tier One copper producer.

Barrick’s President and Chief Executive Officer Mark Bristow highlighted Lumwana’s remarkable turnaround since 2019, when it was regarded as a high-cost,underperforming asset. Today, it has become a critical part of Barrick’s global copper portfolio and a cornerstone of Zambia’s economic development.

“When we reviewed the Lumwana Mine in 2019, it was high-cost and underperforming. Today, it’s a growing force in African copper. With this expansion gaining momentum, Lumwana is on course to join the world’s list of large and strategically important copper mines and a powerful driver of growth for both Zambia and Barrick,” said Bristow.

The expansion will double annual copper production to 240,000 tonnes, underpinned by a new 50 million tonne-per-year processing plant. Construction is already underway, with long lead equipment ordered and infrastructure upgrades in progress including a new power transmission framework being developed in partnership with ZESCO to benefit both the mine and the surrounding region.

Since 2019, Lumwana has contributed more than $4 billion to the Zambian economy through taxes, royalties, wages and procurement. Of this, over $3.4 billion has been spent with Zambian suppliers, representing 79% of total procurement. In the first quarter of 2025 alone, 81% of procurement valued at $177 million went to local contractors. The operation is 98% staffed by Zambian nationals, nearly half of whom come from communities surrounding the mine.

Aligned with Zambia’s Mining and Minerals 2031 policy, the expansion also supports the development of the Manyama township and an industrial supplier park to foster local enterprise. A new regional airstrip is scheduled for completion by year-end, and a TEVETA-accredited training centre will be launched to build Zambia’s mining skills pipeline.

Environmental sustainability is central to Lumwana’s growth. The mine is advancing one of Zambia’s largest carbon offset programmes through a REDD+ forest conservation initiative in collaboration with local chiefdoms and the Forestry Department. Spanning up to 300,000 hectares, the project will generate future carbon credits while promoting biodiversity, sustainable land use and community livelihoods. “Lumwana is becoming a flagship for sustainable copper mining. It demonstrates how a world class mine can help build an industrial ecosystem while protecting the environment and expanding economic opportunity,” added Bristow.

Operationally, Lumwana remains on track to meet its 2025 production guidance. The first quarter of the year showed strong performance, driven by increased plant throughput and improved open-pit efficiency. The mine has retained its ISO 14001 and 45001 certifications and has reported no Class 1 or Class 2 environmental incidents so far this year.

“We’re not just expanding a mine, we’re strengthening a partnership. Our teams are actively exploring further growth opportunities across the Zambian copperbelt, building on our recently signed Memorandum of Understanding with the Government of Zambia. Together, we’re laying the foundation for lasting economic and social development that will endure long after mining ends,” concluded Bristow.

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