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The Race to 3 Million Tonnes: Can Lumwana Mine Lead Zambia's Copper Charge?

Unlocking Zambia's potential: Lumwana Mine's journey to 3 million tones is more than just an investment. It's a symbol of progress and shared prosperity.

Africa's mining sector is buzzing with excitement, and the recent developments at the Lumwana copper mine in Zambia are a key reason why. Barrick Gold's planned US$2 billion investment to elevate Lumwana into a world-class producer isn't just good news for the company, it's a game-changer for Zambia's economy and its position in the global copper market.

Boosting Production and Jobs: At the heart of the project lies a significant increase in copper production, targeting 240,000 tonnes annually. This translates to more jobs, more revenue, and a positive ripple effect across the Zambian economy. And to ensure swift action, the feasibility study is targeted for completion by the end of 2024, bringing production forward to 2028.

A World-Class Transformation: Lumwana's metamorphosis into a top-tier producer isn't just about numbers. It signifies increased profitability, competitiveness, and efficiency, ultimately benefiting all stakeholders – the company, the government, and the people of Zambia.

Contributing to National Progress: The mine's impact isn't limited to its own operations. Lumwana has already injected nearly US$3 billion into the Zambian economy, a testament to its significant contribution. This contribution extends beyond finances, with 99.3% of the workforce being Zambian nationals, showcasing the company's commitment to local employment.

Empowering Local Businesses: But Barrick's support for Zambia doesn't stop there. The Business Accelerator Programme specifically empowers Zambian contractors, fostering local business growth and creating a more inclusive economic landscape.

Delivering on Expectations: The mine's commitment to its 2023 production guidance demonstrates its operational excellence and reliability, further solidifying its position as a key player in the Zambian mining sector.

Confidence and Partnership: Barrick's significant investment reflects a strong vote of confidence in the Zambian government, attracting further investment and bolstering the country's international reputation. This partnership extends to a shared goal: achieving Zambia's ambitious copper production target of 3 million tonnes by 2030.

The Call to Action: While the future shines bright, challenges remain. Prioritizing local content and increasing participation of Zambian suppliers is crucial to maximize the project's impact and create sustainable opportunities for local businesses. Additionally, embracing advanced mining technologies and investing in downstream value addition will ensure the mine's long-term efficiency, profitability, and job creation potential.

The Lumwana mine expansion is more than just an investment; it's a symbol of progress, partnership, and shared prosperity. By embracing the call to action and working together, Zambia and Barrick can unlock the full potential of this project, illuminating a brighter future for the nation and the African mining sector as a whole.



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