Democratic Republic of Congo’s newly elected president Felix Tshisekedi and Barrick Gold Corporation’s Executive Chairman John Thornton today confirmed their partnership to develop the country’s gold mining industry in a meeting here during the president’s state visit to the United States.
Barrick operates Kibali in the DRC, one of the world’s ten largest gold mines, and along with its joint venture partner AngloGold Ashanti is one of the major investors in the country. It has an extensive exploration programme designed to find and develop more world class orebodies in the DRC.
In a speech to the U.S. Chamber of Commerce his excellency the president Tshisekedi earlier said that while the DRC was potentially the wealthiest country on earth in terms of natural resources, it remains one of its poorest. It was his administration’s key priorities to effect economic and financial reforms and development with help of the international community, especially the USA.
After the meeting, John Thornton said he had been encouraged by the president’s vision of attracting foreign investment and supporting the development of the DRC’s mining industry in a spirit of partnership.
“As the value leader in the global gold sector, Barrick offers the DRC peerless exploration, technical and financial support and through Kibali has proved its commitment to the country, the people and its local partners. We look forward to continue making a significant and growing contribution to the DRC’s economy and to unlocking the enormous value of its mineral potential,” he said.
About the Kibali Gold Mine
The Kibali mine, located in the Democratic Republic of Congo, is one of the largest gold mines in Africa. It comprises an integrated open pit and an underground operation as well as a 7.2Mtpa processing plant. First gold was poured in 2013 from open pit operations and commissioning of the full underground operation was completed at the end of 2017.
Kibali is in the northeast of the DRC, approximately 220km east of the capital of the Haut Uele province, Isiro, 150km west of the Ugandan border town of Arua and 1,800km from the Kenyan port of Mombasa. The mine is owned by Kibali Goldmines SA (Kibali) which is a joint venture company effectively owned 45% by each of Barrick and AngloGold Ashanti, and 10% by Société Miniére de Kilo-Moto (SOKIMO). The mine was developed and is operated by Barrick.