Lumwana Expansion In Full Swing As Barrick Builds Tier One Copper Mine
Barrick Mining Corporation (NYSE:B) is advancing its $2 billion Super Pit Expansion Project at the Lumwana mine in Zambia, transforming it into a Tier One copper mine. The expansion will double copper production to 240,000 tonnes annually, supported by a 50 million tonne per annum processing plant.
Since 2019, Lumwana has contributed over $4 billion to Zambia's economy through taxes, royalties, procurement, and wages, with 79% ($3.4 billion) spent with local suppliers. The project includes development of Manyama township, an industrial supplier park, and a new regional airstrip. The mine employs 98% Zambian nationals and is implementing a REDD+ forest conservation program covering 300,000 hectares.
The operation is tracking well against its 2025 production guidance, with strong Q1 performance driven by increased plant throughput and improved open-pit efficiency.
Barrick Mining Corporation (NYSE:B) sta portando avanti il suo progetto di espansione Super Pit da 2 miliardi di dollari presso la miniera di Lumwana in Zambia, trasformandola in una miniera di rame di livello Tier One. L'espansione raddoppierà la produzione di rame a 240.000 tonnellate annue, supportata da un impianto di lavorazione con una capacità di 50 milioni di tonnellate all'anno.
Dal 2019, Lumwana ha contribuito con oltre 4 miliardi di dollari all'economia dello Zambia tramite tasse, royalties, approvvigionamenti e salari, con il 79% (3,4 miliardi di dollari) speso con fornitori locali. Il progetto comprende lo sviluppo della township di Manyama, un parco industriale per fornitori e una nuova pista aerea regionale. La miniera impiega il 98% di lavoratori zambiani e sta attuando un programma di conservazione forestale REDD+ che copre 300.000 ettari.
L'operazione sta procedendo bene rispetto alle previsioni di produzione per il 2025, con un solido primo trimestre grazie all'aumento della capacità dell'impianto e a una maggiore efficienza della miniera a cielo aperto.
Barrick Mining Corporation (NYSE:B) está avanzando con su proyecto de expansión Super Pit de 2 mil millones de dólares en la mina Lumwana en Zambia, transformándola en una mina de cobre de primer nivel. La expansión duplicará la producción de cobre a 240,000 toneladas anuales, respaldada por una planta de procesamiento con una capacidad de 50 millones de toneladas por año.
Desde 2019, Lumwana ha aportado más de 4 mil millones de dólares a la economía de Zambia a través de impuestos, regalías, adquisiciones y salarios, con un 79% (3.4 mil millones de dólares) gastado con proveedores locales. El proyecto incluye el desarrollo de la localidad de Manyama, un parque industrial para proveedores y una nueva pista aérea regional. La mina emplea al 98% de nacionales zambianos y está implementando un programa de conservación forestal REDD+ que cubre 300,000 hectáreas.
La operación va bien respecto a las previsiones de producción para 2025, con un sólido desempeño en el primer trimestre impulsado por un aumento en la capacidad de la planta y una mayor eficiencia en la mina a cielo abierto.
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Barrick Mining Corporation (NYSE:B) fait progresser son projet d'expansion Super Pit de 2 milliards de dollars à la mine de Lumwana en Zambie, la transformant en une mine de cuivre de premier ordre. Cette expansion double la production de cuivre à 240 000 tonnes par an, soutenue par une usine de traitement d'une capacité de 50 millions de tonnes par an.
Depuis 2019, Lumwana a contribué à hauteur de plus de 4 milliards de dollars à l'économie zambienne via les taxes, redevances, achats et salaires, avec 79 % (3,4 milliards de dollars) dépensés auprès de fournisseurs locaux. Le projet comprend le développement de la localité de Manyama, un parc industriel pour les fournisseurs et une nouvelle piste aérienne régionale. La mine emploie 98 % de nationaux zambiens et met en œuvre un programme de conservation forestière REDD+ couvrant 300 000 hectares.
L'exploitation progresse bien par rapport aux prévisions de production pour 2025, avec de solides performances au premier trimestre grâce à une augmentation du débit de l'usine et une meilleure efficacité en mine à ciel ouvert.
Barrick Mining Corporation (NYSE:B) treibt sein 2-Milliarden-Dollar-Super Pit Expansion Project in der Lumwana-Mine in Sambia voran und verwandelt sie in eine Kupfermine der Spitzenklasse. Die Erweiterung wird die Kupferproduktion auf 240.000 Tonnen jährlich verdoppeln, unterstützt durch eine Verarbeitungsanlage mit einer Kapazität von 50 Millionen Tonnen pro Jahr.
Seit 2019 hat Lumwana über 4 Milliarden Dollar zur sambischen Wirtschaft beigetragen durch Steuern, Lizenzgebühren, Beschaffung und Löhne, wobei 79 % (3,4 Milliarden Dollar) bei lokalen Lieferanten ausgegeben wurden. Das Projekt umfasst die Entwicklung der Stadt Manyama, einen Industriepark für Zulieferer und eine neue regionale Landebahn. Die Mine beschäftigt 98 % sambische Staatsangehörige und führt ein REDD+-Waldschutzprogramm auf 300.000 Hektar durch.
Der Betrieb liegt gut im Plan für die Produktionsprognose 2025, mit starken Ergebnissen im ersten Quartal, die durch eine erhöhte Anlagenkapazität und verbesserte Effizienz im Tagebau erzielt wurden.
- Super Pit Expansion will double copper production to 240,000 tonnes annually
- $4 billion contributed to Zambian economy since 2019
- 79% ($3.4 billion) of procurement spent with local suppliers
- 98% of workforce comprises Zambian nationals
- Strong Q1 2025 performance with increased plant throughput
- Retained ISO 14001 and 45001 certifications with no Class 1 or 2 environmental incidents
- Significant capital expenditure of $2 billion required for expansion
- Project success dependent on infrastructure upgrades including power transmission framework
- Execution risks associated with large-scale expansion project
Insights
Barrick's $2B Lumwana expansion will double copper production to 240k tonnes annually, transforming a once-struggling asset into a Tier One mine.
Barrick's $2 billion Super Pit Expansion at Lumwana represents a transformative investment in the global copper supply chain. The project will double the mine's annual copper production to 240,000 tonnes, supported by a massive 50 million tonne per annum processing plant. This positions Lumwana to become one of Barrick's cornerstone copper assets during a period of structural copper deficits projected in global markets.
The expansion marks a remarkable operational turnaround. When Barrick reassessed Lumwana in 2019, it was underperforming with high operating costs. Today, it's tracking well against 2025 production guidance with Q1 already showing improved plant throughput and open-pit efficiency. The mine has maintained its ISO 14001 and 45001 certifications with no significant environmental incidents reported.
From an infrastructure perspective, the development includes critical power transmission upgrades in partnership with ZESCO, a regional airstrip expected by year-end, and the development of Manyama township with an industrial supplier park. These infrastructure investments create an industrial ecosystem that extends beyond mining.
Particularly notable is Barrick's localization strategy, with 98% Zambian employment and 79% local procurement since 2019 (
The environmental initiative involving a REDD+ forest conservation program covering up to 300,000 hectares represents forward-thinking carbon management, potentially generating future carbon credits while supporting biodiversity objectives.
All amounts expressed in US dollars
LUSAKA, Zambia, July 10, 2025 (GLOBE NEWSWIRE) -- Construction of the
Addressing members of the media and other stakeholders here today, Barrick president and chief executive Mark Bristow said the Lumwana expansion builds on a remarkable turnaround that has seen the operation evolve from a struggling asset into a key pillar of both Barrick’s global copper portfolio and Zambia’s long-term development agenda.
“When we reviewed the Lumwana mine in 2019, it was high-cost and underperforming. Today, it’s a growing force in African copper. With this expansion gaining momentum, Lumwana is on course to join the world’s list of large and strategically important copper mines, and a powerful driver of growth for both Zambia and Barrick,� Bristow said.
The expansion will double copper production to 240,000 tonnes a year, supported by a 50 million tonne per annum processing plant. Site construction is underway, long-lead equipment orders have been placed, and infrastructure upgrades � including a new power transmission framework developed in partnership with ZESCO � are progressing to support both the mine and the wider region.
Since 2019, the mine has contributed over
As part of an integrated development plan aligned with Zambia’s Mining and Minerals 2031 policy, the Lumwana expansion will drive the development of the Manyama township and industrial supplier park. A new regional airstrip is expected to be completed by the end of the year and a TEVETA-accredited training centre will be launched to expand Zambia’s mining skills base.
The mine is also advancing one of the country’s most ambitious environmental and carbon initiatives, with the development of a REDD+ forest conservation programme in collaboration with local chiefdoms and the Forestry Department. Covering up to 300,000 hectares, the project is designed to generate future carbon credits while supporting sustainable livelihoods, biodiversity and land stewardship.
“Lumwana is becoming a flagship for sustainable copper mining. It demonstrates how a world-class mine can help build an industrial ecosystem while protecting the environment and expanding economic opportunity,� said Bristow.
Operationally, Lumwana is tracking well against its 2025 production guidance. Performance in the first quarter set a strong tone for the year, supported by increased plant throughput and continued improvements in open-pit efficiency. The mine retained ISO 14001 and 45001 certifications and recorded no Class 1 or Class 2 environmental incidents to date.
“We’re not just expanding a mine, we’re strengthening a partnership. Our teams are actively exploring further growth opportunities across the Zambian copperbelt, building on our recently signed Memorandum of Understanding with the Government of Zambia. Together, we’re laying the foundation for lasting economic and social development that will endure long after mining ends,� Bristow said.
Barrick Enquiries
Group investor and media relations
Kathy du Plessis
+44 20 7557 7738
[email protected]
Zambia Country Manager
Anthony Malenga
+260 977 730 513
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Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes “forward-looking statements�. All statements, other than statements of historical fact, are forward-looking statements. The words “expect�, “strategy�, “estimates�, “target�, “plan�, “guidance�, “project�, “additional�, “growth�, “potential�, “future�, “focus�, “will�, and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Barrick’s forward-looking production guidance; Barrick’s Lumwana Super Pit expansion project and its ability to extend Lumwana’s life of mine; global projected copper production and demand profiles; estimated copper production from the Lumwana Super Pit expansion, including projected mining rates; the financial performance of the Lumwana Super Pit expansion; the estimated capital budget for the Lumwana Super Pit expansion; anticipated timelines for delivery of the feasibility study, project construction, first production, and key execution timeframes for the Lumwana Super Pit expansion; our ability to convert resources into reserves and replace reserves net of depletion from production; estimates of future costs, mine life and production rates; Barrick’s strategy, plans, targets and goals in respect of environmental and social governance issues, including local community development and, climate change initiatives, health and safety and biodiversity initiatives; electrical grid upgrades and stability; and expectations regarding future price assumptions, financial performance and other outlook or guidance.
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Such factors include, but are not limited to: fluctuations in the spot and forward price of gold, copper or certain other commodities (such as silver, diesel fuel, natural gas and electricity); risks associated with projects in the early stages of evaluation and for which additional engineering and other analysis is required; risks related to the possibility that future exploration results will not be consistent with the Company’s expectations, that quantities or grades of reserves will be diminished, and that resources may not be converted to reserves; risks associated with the fact that certain of the initiatives described in this press release are still in the early stages and may not materialize; changes in mineral production performance, exploitation and exploration successes; risks that exploration data may be incomplete and considerable additional work may be required to complete further evaluation, including but not limited to drilling, engineering and socioeconomic studies and investment; the speculative nature of mineral exploration and development; lack of certainty with respect to foreign legal systems, corruption and other factors that are inconsistent with the rule of law; disruption of supply routes which may cause delays in construction and mining activities, including disruptions in the supply of key mining inputs due to the invasion of Ukraine by Russia and conflicts in the Middle East; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks associated with artisanal and illegal mining; changes in national and local government legislation, taxation, controls or regulations and/or changes in the administration of laws, policies and practices; expropriation or nationalization of property and political or economic developments in Zambia or other countries in which Barrick does or may carry on business in the future; risks relating to political instability in certain of the jurisdictions in which Barrick operates; timing of receipt of, or failure to comply with, necessary permits and approvals; non-renewal of or failure to obtain key licenses by governmental authorities; failure to comply with environmental and health and safety laws and regulations; increased costs and physical and transition risks related to climate change, including extreme weather events, resource shortages, emerging policies and increased regulations relating to greenhouse gas emission levels, energy efficiency and reporting of risks; Barrick’s ability to achieve its sustainability goals, including its climate-related goals and greenhouse gas emissions reduction targets; contests over title to properties, particularly title to undeveloped properties, or over access to water, power and other required infrastructure; the liability associated with risks and hazards in the mining industry, and the ability to maintain insurance to cover such losses; damage to the Company’s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company’s handling of environmental matters or dealings with community groups, whether true or not; risks related to operations near communities that may regard Barrick’s operations as being detrimental to them; litigation and legal and administrative proceedings; operating or technical difficulties in connection with mining or development activities, including geotechnical challenges, tailings dam and storage facilities failures, and disruptions in the maintenance or provision of required infrastructure and information technology systems; increased costs, delays, suspensions and technical challenges associated with the construction of capital projects; risks associated with working with partners in jointly controlled assets; risks related to disruption of supply routes which may cause delays in construction and mining activities; risks associated with Barrick’s infrastructure, information technology systems and the implementation of Barrick’s technological initiatives, including risks related to cybersecurity incidents, including those caused by computer viruses, malware, ransomware and other cyberattacks, or similar information technology system failures, delays and/or disruptions; the potential to convert all or part of the mineral resource for the Super Pit expansion into a mineral reserve following the completion of the feasibility study; risks related to competition in the mining industry; employee relations including loss of key employees; availability and increased costs associated with mining inputs and labor; and risks associated with diseases, epidemics and pandemics. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).
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