Barrick Outlined Growth Outlook for Kibali Gold Mine

The site now operates fully on renewable energy for six months of the year, thus making it a benchmark for the entire global mining industry.

SEATTLE (Scrap Monster): At its flagship Kibali mine in the Democratic Republic of the Congo, Barrick Mining Corporation said that new drilling in the ARK-KCD corridor has confirmed 'significant additional orebodies,' potentially extending the mine's life beyond the initial 10-year plan.

Speaking to reporters, Mark Bristow, president and CEO of Barrick, stated that the ARK-KCD system study has uncovered a logical geological structure that could greatly increase the mine's reserve base. According to him, material productivity gains from Q3 of this year are anticipated as a result of the underground mine's continuous operating improvements.

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Furthermore, the 16MW solar plant with an integrated Battery Energy Storage System (BESS) has been fully commissioned, increasing the utilization of renewable energy by 85%. The location is now a benchmark for the whole mining industry worldwide, running entirely on renewable energy for six months of the year.

The main source of income for the northeastern Democratic Republic of the Congo is the flagship Kibali mine. Over the previous ten years, Barrick has made investments totaling about $3 billion, including agreements with regional suppliers and contractors.

In 2013, Kibali poured its first gold.