Barrick Gold Aims to Boost Copper Output from Central Africa

SEATTLE (Scrap Monster): Barrick Gold Corp. foresees big opportunity to grow its copper production in central Africa. The company noted that the central African copper belt offers significant opportunity for its copper initiative, especially since the appointment of a pro-business government in Zambia.

According to Mark Bristow, Chief Executive Officer, Barrick Gold, the company already operates Lumwana copper mine in northwestern Zambia. The company had plans to sell that operation in 2019, following receipts of interests from potential buyers after its merger with Randgold Resources. The mine has been a real success following the merger deal, noted Bristow.

Barrick Gold said that the company, which already has significant investments in Zambia, will consider further opportunities that meet its investment filters and leverage its established in-county investment base.

The Canadian High Commissioner to Zambia has already informed the country’s President about the interest shown by Canadian companies such as Barrick Gold and First Quantum Minerals Ltd. towards making investment in copper mines in Zambia which were previously operated by Glencore plc and Vedanta Resources.

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