Barrick, gold and copper producer company has announced advancing its copper exploration efforts in the Democratic Republic of Congo (DRC), having already secured exploration permits in Haut-Katanga.
Making the announcement at the sidelines of Investing in African Mining Indaba event on February 5, 2025, Cyril Mutombo, the company’s Country Director said the exploration is the foundation of any mining project.
Barrick brings extensive expertise in copper production, with major operations in Zambia and Pakistan. The company is investing over $3 billion to expand its Zambian copper mine, while its Pakistan project is projected to sustain production for nearly a century.
“We always prioritize exploration because it forms the foundation of mining,” said Mutombo. “Acquiring an existing project involves speculation, whereas exploration allows us to develop resources from the ground up and make well-informed investment decisions.”
Barrick remains committed to its expansion plans in Greater Katanga despite electricity shortages. Mutombo highlighted the company’s expertise in managing energy challenges, referencing its success at Kibali Gold Mine.
Initially reliant on a 43MW thermal power plant, Barrick transitioned to hydropower to lower costs and reduce carbon emissions.
The company constructed three hydropower plants—Nzoro 2 (22MW) in 2015, Ambarau (10.3MW) in 2016, and Azambi (10.1MW) in 2018—while also implementing a battery energy storage system to stabilize power supply.
Barrick has implemented a battery energy storage system to stabilize the power network, balancing demand fluctuations by absorbing excess energy during low demand and supplying it during peak periods. This ensures a steady load on generators, optimizing efficiency.
Despite the energy challenges in Katanga, Barrick remains committed to its expansion plans, demonstrating resilience and strategic foresight in overcoming obstacles to sustain its mining operations in the region.
