Barrick already has exploration permits and is well advanced in this direction, announced Cyril Mutombo, Country Manager of this mining company during an interview with the press on Wednesday, February 5, 2025, on the sidelines of Indaba Mining in South Africa.
Cyril Mutombo gave the reasons that led Barrick to embark on copper production, and above all to start with the basics, i.e. exploration.
First of all, he pointed out, Barrick is already active in copper production and therefore has proven expertise in this field.
“Barrick’s next activity in the DRC, alongside gold, will be copper. Since last year, we have had a number of copper permits in Haut-Katanga. Our exploration teams and geologists have already been mobilized, and work will begin very soon. This is exploration, to be precise, and it takes years. We have to be patient and give them time. We’re very confident because Barrick’s teams are among the best. Of the 10 major gold mines in the world, Barrick owns 4, so we have good teams we can trust,” he emphasized.
He adds: “We already have a copper mine in Zambia right next to the DRC, which is a complex undergoing major transformations. We have invested a further USD 3 billion to expand it. We also have another one in Pakistan that contains gold and copper. It’s going to produce for almost 100 years. We also have the largest gold complex in Nevada in the United States. It’s all this expertise that Barrick has at its disposal that will be put to good use in the DRC to advance our agenda in copper, as is already the case in gold,” he adds.
Why start with exploration instead of going straight to copper mining?
To this question, Cyril Mutombo explains that this is the very basis of any mining operation.
“We always like to start with exploration because it’s the foundation of any mining activity. Exploration means in-house research. Because when you buy what’s already been developed, there’s speculation all around and you need to be reassured about the investment. The advantage of exploration is that you start from scratch. If it turns out that there’s something there, you’ll find it as long as you have the expertise. So if you go at it from that angle, you’ll try to move forward,” said Barrick’s Country Manager for the DRC.
Greater Katanga’s electricity deficit no obstacle for Barrick
Greater Katanga has always had a glaring electricity deficit. A challenge that will not deter the mining giant.
“And when it comes to the challenge of supplying electricity to Katanga, Barrick knows how to prepare itself very well, and we’ll see at the appropriate time to what extent we can reduce this energy challenge, which is blocking not only the expansion of the mining sector, but also the economy of the DRC”, he said.
In this respect, Barrick, through its subsidiary Kibali, has already demonstrated its expertise. Indeed, energy demand at the Kibali mine averages 43MW, with an oscillation of +/-4 MW every 1.5 minutes due to the vertical shaft winch, creating variations in generator load. Over the years, Kibali has implemented a number of energy solutions. The gold mine first began operations with a thermal power plant consisting of diesel generators with a total capacity of 43 MW.
In 2015, the mine initiated a transition to green energy with the aim of reducing its dependence on generators, cutting energy production costs and reducing carbon emissions.
Investments included the Nzoro 2 Hydroelectric Power Station with a capacity of 22 MW in 2015. In mid-2016, the Ambarau Hydroelectric Power Station with a capacity of 10.3 MW.
Also, the Azambi hydroelectric power station with 10.1 MW, by the end of 2018.
This mining giant has also thought of a solution to stabilize the grid, through a battery-based energy storage system that has been put in place, absorbing negative demand peaks and supplying energy during positive peaks, while keeping generator loads stable.
By coming to Katanga, Barrick does not intend to give up in the face of this challenge, which is not the least.
Nadine FULA