Barrick has completed a comprehensive feasibility study for the Super Pit Expansion at Lumwana in Zambia, transforming the mine into a long-life, high yielding, Top 25 copper producer and Tier One copper mine, capable of contending with the volatility of the copper demand cycles.
The expansion will substantially increase the mine’s production capacity, extending its operational life by 17 years to 2057, and doubling the capacity of the processing plant from 27 million tonnes per annum (Mtpa) to a peak design of 54Mtpa — achieving an average copper output of 240,000 tonnes annually over the life of the mine, from a planned 52Mtpa process feed. Based on the feasibility study, the total project capital cost is estimated to be $2 billion.
Construction is set to begin in 2025, with the project promising substantial improvements in operational efficiency.
