Barrick has already obtained exploration permits and is making significant progress, announced Cyril Mutombo, the Country Director of the mining company, during an interview with the press on Wednesday, February 5, 2025, on the sidelines of the Indaba Mining conference in South Africa.
Cyril Mutombo explained the reasons behind Barrick’s decision to enter copper production, particularly by starting with exploration, which serves as the foundation of the mining process.
First and foremost, he emphasized that Barrick is already engaged in copper production and, therefore, has extensive expertise in this sector.
“Barrick’s next major activity in the DRC, alongside gold production, will be copper. Since last year, we have acquired some copper permits in Haut-Katanga. Our exploration teams and geologists are already mobilized, and work will begin very soon. This is purely an exploration phase, which, I must emphasize, takes years. We need to be patient and give our teams time. We are very confident because Barrick has some of the best experts in the industry. Of the world’s ten largest gold mines, Barrick owns four. This is proof that we have strong teams we can rely on.”
He further added:
“We already operate a copper mine in Zambia, right next to the DRC, which is undergoing significant transformation. We have invested an additional $3 billion to expand it. We also have another mine in Pakistan that contains both gold and copper, with an estimated production lifespan of nearly 100 years. In addition, we own the largest gold mining complex in Nevada, USA. This wealth of expertise will be leveraged in the DRC to advance our copper agenda, just as we have done with gold.”
Why Start with Exploration Instead of Directly Exploiting Copper?
When asked why Barrick chose to start with exploration rather than jumping directly into copper mining, Cyril Mutombo explained that exploration is the foundation of any mining operation.
“We always prefer to start with exploration because it is the fundamental basis of mining activity. Exploration is essentially in-house research. When you buy a mine that has already been developed, there is speculation involved, and you need to be certain about your investment. The advantage of exploration is that you start from scratch. If there is indeed something valuable in the ground, you will eventually discover it—provided you have the right expertise. This is the approach we take to move forward.”
Power Supply Deficit in Greater Katanga Is Not a Barrier for Barrick
The Greater Katanga region has long struggled with a severe electricity shortage, a challenge that will not deter the mining giant.
“Regarding the electricity supply challenges in Katanga, Barrick is well-prepared. At the right time, we will assess the best ways to mitigate this energy challenge, which not only hinders the expansion of the mining sector but also affects the overall economy of the DRC,” he stated.
On this front, Barrick has already demonstrated its expertise through its subsidiary, Kibali. The Kibali gold mine requires an average of 43 MW of power, with fluctuations of ±4 MW every 1.5 minutes due to the vertical shaft hoist, which creates variable loads on the generators. Over the years, Kibali has implemented several energy solutions.
The gold mine initially started operations with a thermal power plant comprising diesel generators with a total capacity of 43 MW.
In 2015, the mine transitioned toward green energy to reduce its reliance on generators, lower energy production costs, and cut carbon emissions.
Key investments included:
- Nzoro 2 Hydropower Plant (22 MW) in 2015
- Ambarau Hydropower Plant (10.3 MW) in mid-2016
- Azambi Hydropower Plant (10.1 MW) at the end of 2018
Additionally, Barrick implemented an energy storage system using batteries, which helps stabilize the grid by absorbing negative demand peaks and supplying power during positive peaks, keeping generator loads stable.
As Barrick expands into Katanga, the company is committed to overcoming the region’s energy challenges and ensuring sustainable operations.
