Super Pit development at Barrick’s (NYSE: GOLD) Lumwana copper mine in Zambia officially launched on Wednesday at an event attended by President Hakainde Hichilema and members of his cabinet.
Barrick chief executive Mark Bristow said in September that the $2 billion expansion would transform Lumwana into a long-life, high yielding Tier 1 copper mine, expected to rank amongst the top 25 in the world.
The feasibility study for the Super Pit expansion is expected by the end of the year, paving the way for construction to start in 2025, Barrick said.
The expansion involves first doubling throughput of the existing process circuit and then significantly increasing mining volumes. Plant throughput will grow from the current 27Mt to 52Mt, doubling the mine’s annual copper production from 120kt to a life-of-mine average of 240kt a year.
The process plant expansion is supported by a ramp-up of total mining volumes, which are planned to increase incrementally year-on-year, from 150Mt in 2025 to approximately 240Mt in 2028 and then to an average rate of 290t per annum from 2030 onwards, the miner said.
This week Barrick awarded Metso a major order for the supply of copper concentrator plant equipment to the expansion project in Zambia’s North-Western province.
Bristow said a critical element of the Super Pit Expansion was its focus on creating a sustainable legacy through the development of local capacity within the region. The expansion will need around 550 additional workers over the next five years to support the ramp up and an additional 2,500 construction workers for a three-year period to 2028.
“We are also planning to build critical infrastructure, including an airstrip and an industrial supplier park. This will enable key suppliers to establish themselves in the area, creating an economic hub that will further fuel growth and development in the wider region,” Bristow said at the groundbreaking ceremony.
The permitting process for the expansion is well underway, with the environmental and social impact assessment already submitted to the Zambian authorities and approval expected by the end of this year.
“Mining plays a key role in Zambia’s economic structure and our partnership with Barrick is creating one team with a shared vision to develop a new economic frontier in the North-Western Province of the country and beyond,” President Hichilema said at the event.
Lumwana is a significant contributor in Barrick’s expanding copper portfolio, catering to the rapidly increasing demand for copper required for the energy transition.
Source: MINING.COM – Read More
