Barrick Gold's Lumwana Mine contributes billions to Zambia's economy, supporting local content and expansion

From GlobeNewswire: 2025-01-26 08:00:00

Barrick Gold Corporation has contributed over $3.7 billion to Zambia’s economy since 2019, with Lumwana’s operations adding $887 million in 2024 alone. The company has prioritized local content, with 72% of expenditures going to Zambian suppliers. An expansion project will double copper production, creating 2,500 construction jobs and 550 permanent roles. Barrick’s focus on sustainable workforce development has led to 99% of employees being Zambian nationals. The company’s vision includes transforming Kalumbila District into a mining-powered economic hub, with plans for employee housing, an industrial park, and an airport by the end of 2025.

Barrick is actively supporting Zambia’s goal to increase copper output to 3Mt by 2031 through the Lumwana expansion and exploration licenses. The company is collaborating with ZESCO to address power challenges, with Lumwana’s co-generation initiatives reducing grid reliance. A joint working group is upgrading the northwestern power corridor to benefit mines, communities, and consumers. Barrick’s long-term vision for Lumwana extends beyond mining, ensuring lasting benefits from its investments.



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