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The Lumwana copper mine is poised for a dramatic transformation, with its Super Pit expansion project now set to deliver initial production by 2028, according to Barrick president and CEO Mark Bristow. This accelerated timeline marks a significant step towards turning the once-struggling mine into a global copper powerhouse.
The ambitious $2-billion project, slated to commence construction later this year, aims to achieve an annual production of approximately 240,000 tonnes of copper over a 30-year lifespan. This development is a cornerstone of the Zambian government’s strategic vision to revitalize its copper industry within the next decade.
Barrick’s commitment to Lumwana aligns with its broader strategy to double its copper production by the end of the decade, targeting 450,000 tonnes per year by 2031. This expansion is underpinned by a comprehensive restructuring and re-engineering of the Lumwana operation, including the reopening of the Malundwe pit and a transition to owner mining, which have already contributed to achieving the mine’s 2023 production targets.
The Lumwana expansion is not Barrick’s only copper initiative. The Reko Diq project in Pakistan also plays a vital role in the company’s global copper growth strategy.
Since 2019, Lumwana has contributed nearly $3 billion to the Zambian economy through royalties, taxes, salaries, and local procurement. In 2023 alone, local procurement accounted for $472 million, representing over 81% of the mine’s total expenditure.
To further empower local businesses, Barrick has launched a Business Accelerator Program, designed to build the capacity of Zambian contractors within its supply chain. This initiative aims to ensure the long-term sustainability and diversification of these enterprises beyond the mine’s operational lifespan.
“In line with Barrick’s partnership philosophy, our REDD+ initiative will uplift our host communities through conservation of the natural forest surrounding the mine,” Bristow stated. “We are in discussion with the Ministry of Green Economy and Environment to facilitate the required licensing and our partnership with local government.”
Bristow’s meeting with Zambian President Hakainde Hichilema in Lusaka underscored the strategic importance of the Lumwana expansion to the nation’s economic development. This project not only promises to significantly boost Zambia’s copper output but also to create lasting economic and social benefits for local communities.
