Kibali, Africa’s Largest and Greenest Gold Mine, Continues to Deliver Growth

Core Viewpoint - Barrick Mining Corporation's ongoing drilling results from the ARK-KCD corridor at Kibali mine indicate significant potential for additional ore bodies and an extended mine life, reinforcing confidence in the mine's scale and continuity [1][2][3]. Company Performance - Kibali has consistently replaced every ounce of gold mined since its inception in 2013, demonstrating a strong track record in production and reserve growth [3]. - The mine has contributed over $6.3 billion to the Congolese economy, including $3.1 billion in payments to local contractors and partners, making it the largest economic contributor in northeastern DRC [4]. Local Engagement and Sustainability - Kibali's operations involve local businesses, with contracts for mining satellite pits awarded to them, supporting over 700 Congolese companies through procurement and capacity-building initiatives [5]. - The company emphasizes a partnership model that is Congolese-led and aims to deliver shared value, reinforcing its commitment to local development [6]. Operational Improvements - Ongoing operational enhancements in the underground mine are expected to yield significant productivity gains starting in the third quarter, focusing on long-term cost efficiency [7]. - The commissioning of a 16MW solar plant has increased renewable energy usage to 85%, with the site operating on 100% renewable energy for six months of the year [7][8]. Biodiversity and Community Development - Barrick is actively involved in biodiversity conservation, with plans to introduce 64 white rhinos into Garamba National Park, following a successful reintroduction of 16 rhinos in 2023 [9]. - The company has completed 41 out of 44 community development projects funded through a 0.3% community development fund, focusing on essential infrastructure, education, and healthcare [11]. Future Outlook - The company views Kibali as a blueprint for sustainable growth in the DRC, with plans to expand its portfolio to include copper projects alongside gold [12].