By: Creamer media

Since the 2019 merger of Randgold Resources with Barrick, led by South African-born Mark Bristow, the company has seen significant success. Under his leadership, Barrick has returned $6.7 billion to shareholders and reduced its net debt by $4 billion. The company has solidified its position as a leading global mining entity, with a portfolio that includes six of the world's Tier 1 gold mines and promising copper prospects across 18 countries.

In Africa, the Kibali gold mine in the Democratic Republic of Congo (DRC) stands out as one of the world's most automated and environmentally conscious gold mines. It has invested over $6.3 billion in the DRC, including $3.1 billion paid to local contractors, and remains the largest economic contributor to the north-eastern region of the country. The mine utilizes solar power and battery storage to supplement clean hydropower.

In Tanzania, operations at North Mara and Bulyanhulu gold mines are progressing steadily. Barrick is adapting to new national legislation that requires 20% of gold production to be reserved for domestic trading.

Significant progress is also being made in copper. The Lumwana mine in Zambia is undergoing a major expansion, with its second-quarter copper production surging 63% year-on-year to 44,000 tonnes. This increase has been accompanied by a 29% reduction in cash costs. The Lumwana Super Pit expansion is on track to become a 240,000-tonne-per-year operation with a mine life exceeding 30 years.