Barrick’s Kibali Ends 2024 With Strong Performance
Barrick Gold 's Kibali gold mine achieved its highest yearly throughput since commissioning in Q4 2024, despite facing challenges that required leadership changes. The mine is advancing several key initiatives, including:
Construction of a 16MW solar plant expected to complete by June 2025, which will reduce CO2 emissions from 45kt to 24kt annually and increase renewable energy mix from 81% to 85%. The mine maintained ISO 45001 and ISO 14001 certifications and reduced fresh water extraction from 15% to 11%.
Kibali has contributed $5.7 billion to the Congolese economy, including $3 billion spent with local suppliers. The mine completed 41 of 44 planned community development projects through its 0.3% revenue fund, investing $4.4 million in 2024. Exploration continues in highly prospective areas within the Kibali permit to support the mine's reserve pipeline.
Barrick Gold ha raggiunto il suo massimo rendimento annuale dalla messa in servizio nella miniera d'oro di Kibali nel quarto trimestre del 2024, nonostante le sfide che hanno richiesto cambiamenti nella leadership. La miniera sta portando avanti diverse iniziative chiave, tra cui:
La costruzione di un impianto solare da 16MW previsto per essere completato entro giugno 2025, che ridurrà le emissioni di CO2 da 45kt a 24kt all'anno e aumenterà il mix di energia rinnovabile dall'81% all'85%. La miniera ha mantenuto le certificazioni ISO 45001 e ISO 14001 e ha ridotto l'estrazione di acqua dolce dal 15% all'11%.
Kibali ha contribuito con 5,7 miliardi di dollari all'economia congolese, compresi 3 miliardi spesi con fornitori locali. La miniera ha completato 41 dei 44 progetti di sviluppo comunitario pianificati attraverso il suo fondo dello 0,3% delle entrate, investendo 4,4 milioni di dollari nel 2024. Le esplorazioni continuano in aree altamente prospettiche all'interno del permesso di Kibali per supportare il portafoglio di riserve della miniera.
Barrick Gold alcanzó su máxima producción anual desde su puesta en marcha en la mina de oro Kibali en el cuarto trimestre de 2024, a pesar de enfrentar desafíos que requirieron cambios en la dirección. La mina está avanzando en varias iniciativas clave, incluyendo:
La construcción de una planta solar de 16MW que se espera completar para junio de 2025, lo que reducirá las emisiones de CO2 de 45kt a 24kt anuales y aumentará la mezcla de energía renovable del 81% al 85%. La mina ha mantenido las certificaciones ISO 45001 e ISO 14001 y ha reducido la extracción de agua dulce del 15% al 11%.
Kibali ha contribuido con 5.7 mil millones de dólares a la economía congoleña, incluidos 3 mil millones gastados con proveedores locales. La mina completó 41 de los 44 proyectos de desarrollo comunitario planificados a través de su fondo del 0.3% de los ingresos, invirtiendo 4.4 millones de dólares en 2024. La exploración continúa en áreas de alta prospectividad dentro del permiso de Kibali para respaldar el pipeline de reservas de la mina.
바릭 골드의 키발리 금광은 2024년 4분기에 가동 이후 가장 높은 연 생산량을 달성했으며, 리더십 변화가 필요한 도전 과제에 직면했음에도 불구하고 운영이 순조롭게 진행되고 있습니다. 이 광산은 다음과 같은 여러 주요 이니셔티브를 진행하고 있습니다:
2025년 6월까지 완공될 예정인 16MW 태양광 발전소 건설, 이는 CO2 배출량을 연간 45kt에서 24kt로 줄이고 재생 가능 에너지 비율을 81%에서 85%로 증가시킬 것입니다. 이 광산은 ISO 45001 및 ISO 14001 인증을 유지했으며, 담수 추출량을 15%에서 11%로 줄였습니다.
키발리는 지역 공급업체와 함께 지출한 30억 달러를 포함하여 콩고 경제에 57억 달러를 기여했습니다. 이 광산은 수익의 0.3% 기금을 통해 계획된 44개의 지역 개발 프로젝트 중 41개를 완료하며, 2024년에 440만 달러를 투자했습니다. 탐사는 키발리 허가 구역 내 고성능 지역에서 계속 이루어지고 있으며, 이는 광산의 자원 파이프라인을 지원하기 위함입니다.
Barrick Gold a atteint son plus haut débit annuel depuis la mise en service de la mine d'or Kibali au quatrième trimestre 2024, malgré les défis ayant nécessité des changements de direction. La mine avance plusieurs initiatives clés, notamment :
La construction d'une centrale solaire de 16 MW qui devrait être achevée d'ici juin 2025, réduisant les émissions de CO2 de 45 kt à 24 kt par an et augmentant la part d'énergie renouvelable de 81 % à 85 %. La mine a maintenu ses certifications ISO 45001 et ISO 14001 et a réduit l'extraction d'eau douce de 15 % à 11 %.
Kibali a contribué à l'économie congolaise à hauteur de 5,7 milliards de dollars, dont 3 milliards dépensés auprès de fournisseurs locaux. La mine a complété 41 des 44 projets de développement communautaire prévus via son fonds de 0,3 % de recettes, investissant 4,4 millions de dollars en 2024. L'exploration se poursuit dans des zones à fort potentiel au sein du permis de Kibali pour soutenir le pipeline de réserves de la mine.
Barrick Gold erreichte in der Kibali-Goldmine im vierten Quartal 2024 die höchste jährliche Durchsatzmenge seit der Inbetriebnahme, obwohl sie Herausforderungen gegenüberstand, die Führungswechsel erforderlich machten. Die Mine verfolgt mehrere wichtige Initiativen, darunter:
Den Bau eines 16-MW-Solarkraftwerks, das bis Juni 2025 fertiggestellt werden soll, wodurch die CO2-Emissionen von 45t auf 24t jährlich gesenkt und der Anteil erneuerbarer Energien von 81% auf 85% erhöht wird. Die Mine hat die ISO 45001 und ISO 14001-Zertifizierungen beibehalten und die Frischwasserentnahme von 15% auf 11% reduziert.
Kibali hat 5,7 Milliarden Dollar zur kongolesischen Wirtschaft beigetragen, darunter 3 Milliarden, die bei lokalen Lieferanten ausgegeben wurden. Die Mine hat 41 von 44 geplanten Projekten zur Gemeindeentwicklung über ihren Einnahmenfonds von 0,3% abgeschlossen und 2024 4,4 Millionen Dollar investiert. Die Exploration geht in hochgradig aussichtsreichen Gebieten innerhalb des Kibali-Genehmigungsgebiets weiter, um die Reserven der Mine zu unterstützen.
- Achieved highest yearly throughput since commissioning
- Solar plant implementation will reduce CO2 emissions by 47% (45kt to 24kt)
- Renewable energy mix to increase from 81% to 85%
- Fresh water extraction reduced from 15% to 11%
- $5.7 billion contributed to Congolese economy
- Maintained ISO 45001 and ISO 14001 certifications
- Faced operational challenges requiring leadership changes in 2024
Insights
The Kibali mine's record throughput achievement in 2024 signals robust operational execution, particularly noteworthy given the year's challenges and leadership changes. The consistent performance as a low-cost producer is strategically important in the current gold market environment, where operational efficiency directly impacts profit margins.
The 16MW solar plant investment represents a significant operational upgrade that will drive both environmental and financial benefits. The projected reduction in fuel consumption by
The exploration focus on areas within trucking distance of the plant is strategically sound, as any discoveries could be processed through existing infrastructure, potentially providing high-margin ounces with minimal capital investment. The
The strengthened management team and maintained ISO certifications suggest robust operational governance, while the biodiversity initiatives and community development projects (41 of 44 completed) indicate effective stakeholder management. These factors, combined with the transparent local content strategy involving over 500 Congolese companies, create a sustainable operating environment that should support long-term value creation.
All amounts expressed in US dollars
KINSHASA, Democratic Republic of Congo, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) – Barrick’s Kibali gold mine achieved an improved performance in the last quarter of the year, culminating in the highest yearly throughput since its commissioning. This milestone underscores the mine’s continued focus on operational excellence and its capacity to deliver strong results.
Barrick chief operating officer for Africa and the Middle East, Sebastiaan Bock, said: “2024 was a challenging year which called for a reset and some leadership changes. Despite this, the year has once again demonstrated that Kibali is a consistent and efficient low-cost producer. The mine is well positioned to build on this foundation and deliver strong results in 2025 and beyond.”
The management team has been further strengthened and exploration is focused on highly prospective areas within the Kibali permit. These areas hold significant potential for new gold discoveries within trucking distance of the plant, aimed at bolstering the mine’s reserve pipeline.
“Barrick is also making significant progress on the construction of a 16MW solar plant at Kibali to help reduce its carbon dioxide emissions from 45kt to 24kt per year. Not only is it the biggest gold mine in Africa and a global leader in automation, but it is also fast becoming a model for renewable energy in African mining,” Bock said.
Much of Kibali’s electricity is already supplied by three hydropower stations but the new solar plant and battery energy storage system, expected to be completed by June this year, will help Kibali reduce its fuel consumption by
Kibali maintained its ISO 45001 (Occupational Health and Safety) and ISO 14001 (Environmental Management) certifications, underscoring Barrick’s high standards in managing its operations responsibly. Fresh water extraction from the Kibali river was reduced from
Barrick’s commitment to biodiversity and enhancing the natural environment remains a priority. The company, in partnership with African Parks, is working to reintroduce 64 additional white rhinos into Garamba National Park, building on the successful release of 16 rhinos in 2023.
Kibali has contributed over
As part of its ongoing efforts to boost local content, Barrick continued to work closely with the Congolese regulator, ARSP, to improve opportunities for local companies. All tenders are now published through the mine and ARSP’s website, supporting over 500 Congolese companies in the region.
In addition, Barrick has invested heavily in community development projects through its
Enquiries:
| DRC country manager Cyrille Mutombo +243 812 532 441 | Investor and Media Relations Kathy du Plessis +44 20 7557 7738 Email: barrick@dpapr.com |
Website: www.barrick.com
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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”, “plan”, “opportunities”, “develop”, “project”, “progress”, “continue”, “continued”, “deliver”, “positioned”, “additional”, “becoming”, “potential”, “prospective”, “focus”, “ongoing”, “working”, “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 potential and anticipated production growth from Barrick’s organic project pipeline and reserve replacement; Kibali’s performance and delivery on its 2024 business plan; potential life of mine extensions and the ability to extend Kibali’s Tier One status; Kibali’s potential to replace reserves net of depletion; Barrick’s exploration strategy and growth opportunities at Kibali, including the potential for further discoveries; Barrick’s commitment to the Democratic Republic of Congo (“DRC”) and strategy, plans, targets and goals in respect of environmental and social governance issues, including local community development and employment, climate change, renewable energy initiatives, health and safety and biodiversity initiatives; and expectations regarding future price assumptions, financial performance and other outlook or guidance.
Forward-looking statements are necessarily based upon a number of estimates and assumptions, including material estimates and assumptions related to the factors set forth below that, while considered reasonable by Barrick as at the date of this press release in light of management's experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. 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 Barrick'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 in the DRC; 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 the DRC or other countries in which Barrick does or may carry on business in the future; risks relating to political instability in the DRC and certain other jurisdictions in which Barrick operates; timing of receipt of, or failure to comply with, necessary permits and approvals; non-renewal of 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 related 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 Barrick's reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to Barrick'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 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; 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, including the effects and potential effects of the global Covid-19 pandemic. 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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Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
FAQ
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