Canadian mining company Barrick Gold Corporation is moving forward with a $2 billion expansion of its Lumwana copper mine in Zambia, marking a strategic shift as tensions rise with Mali’s military-led government.
The investment aims to strengthen Zambia’s position as a global copper hub and boost its industrial capacity.
The expansion project, already underway, will double Lumwana’s annual copper production to 240,000 tonnes using a new processing plant capable of handling 50 million tonnes of ore each year.
It also includes the development of new power lines in partnership with Zambia’s national electricity company, ZESCO, Business Insider reported.
During a recent visit to Lusaka, Barrick CEO Mark Bristow said the upgrade at Lumwana reflects more than just operational progress, it shows a long-term commitment to Zambia’s economy.
“When we reviewed the Lumwana mine in 2019, it was high-cost and underperforming. Today, it’s a growing force in African copper,” he said.
“With this expansion gaining momentum, Lumwana is on course to join the world’s list of large and strategically important copper mines, and a powerful driver of growth for both Zambia and Barrick,” Bristow added.
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Since acquiring the Lumwana mine, Barrick has contributed more than $4 billion to the Zambian economy through taxes, salaries, and contracts with local businesses.
In the first quarter of 2025 alone, the mine spent about $177 million, 81% of its total spending, on Zambian suppliers.
Nearly all of Lumwana’s 12,000 workers are Zambian, with almost half coming from nearby communities.
The company is also investing in infrastructure around the mine, including the construction of the Manyama township, a training center for mining and technical skills, and a regional airstrip.
These projects are aligned with Zambia’s Mining and Minerals 2031 policy, which aims to support long-term growth in the sector.
Barrick is also placing a strong focus on environmental sustainability.
The company is working with Zambia’s Forestry Department and local leaders on a large forest conservation project covering up to 300,000 hectares.
The initiative aims to protect local ecosystems, support community livelihoods, and create carbon credits in the future.
“Lumwana is becoming a flagship for sustainable copper mining. It demonstrates how a world-class mine can help build an industrial ecosystem while protecting the environment and expanding economic opportunity,” Bristow said.
Meanwhile, Barrick’s operations in Mali have been facing serious challenges.
The company’s dispute with the country began after Mali introduced a new mining code in 2023, which gives the government up to a 50% stake in projects and seeks to apply these changes retroactively.
Barrick has rejected the new terms, arguing that they violate existing agreements related to its Loulo, Gounkoto mine.
Tensions increased after Mali’s military government appointed a temporary administrator and seized one tonne of gold, worth about $107 million, using a military helicopter.
The action followed earlier gold export bans and seizures.
Barrick has responded by launching international arbitration, accusing Mali of breaching investment treaties.
The case highlights growing resource nationalism in some military-led African countries.
Barrick’s expanded investment in Zambia reflects the growing importance of African copper in the global energy transition, especially as demand rises for electric vehicles and clean energy technologies.
With no major environmental issues reported and strong quarterly performance, Lumwana is not only increasing production but also building a long-term legacy in Zambia and across Africa.
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