Barrick Gold is expected to complete the feasibility study for the Lumwana Mine expansion in Zambia by the end of 2023, paving the way for construction to begin in 2025. The expansion will transform Lumwana into a long-life, high-output Tier 1 copper mine, potentially ranking among the world’s top 25. The plan includes doubling processing capacity to 52 million tons per year and significantly increasing mining throughput, raising annual copper production to 240,000 tons. The project aims to boost operational cash flow by 85% and free cash flow by 60%, with commissioning expected in late 2027.
Barrick anticipates an incremental internal rate of return (IRR) of 20% and a net present value (NPV) of $1.7 billion based on a copper price of $4.13 per pound. The company expects Lumwana’s all-in sustaining costs and C1 cash costs to be industry-leading, ensuring competitive operational performance. Detailed engineering work is set to begin soon, with long-lead equipment orders placed by the end of this quarter. The environmental and social impact assessments have been submitted, and approval is expected by the end of this year.
[Source – 上海有色网] 巴里克：Lumwana铜矿扩建可行性预计将在年底实现 https://news.smm.cn/news/102955331
