Zambia’s IRL Partners with Barrick Gold to Boost Mining Exploration and Development
Industrial Resources Limited (IRL), a subsidiary of Zambia’s Industrial Development Corporation (IDC), has partnered with Barrick Gold Corporation, a global mining leader, to advance exploration and development in Zambia’s mining sector.
This strategic collaboration aims to unlock Zambia’s rich mineral potential, support the country’s mining growth targets, and drive economic development.
The initiative aligns with Zambia’s broader vision to expand its mining sector, targeting an annual copper production of three million metric tons over the next decade.
By combining IRL’s strong local expertise with Barrick’s world-class mining capabilities, the partnership seeks to accelerate exploration, mitigate investment risks, and generate long-term value for Zambia’s economy.
Speaking at the signing ceremony during the Investing in African Mining Indaba in Cape Town, IDC CEO Cornwell Muleya described the agreement as a game-changer for Zambia’s mining industry.
“This partnership positions IRL as a key enabler in the country’s mineral value chain while ensuring that Zambians benefit from their natural resources,” he said.
Barrick President and CEO Mark Bristow reaffirmed the company’s commitment to Zambia’s mining sector, stating, “By collaborating with IRL and engaging with the government and local stakeholders, we aim to unlock new opportunities that create long-term value for both Zambia and our shareholders.
This partnership ensures a 50/50 sharing of economic benefits, promoting a balanced and sustainable outcome for all stakeholders.”
A key focus of the collaboration is sustainability. The partnership will prioritize responsible mining practices, job creation, skills development, and infrastructure investment to support long-term growth and improve the well-being of local communities.
IRL is dedicated to strengthening Zambia’s role in the mining value chain, from exploration and development to mineral trading, fostering investment opportunities and sector sustainability.
Barrick Gold, a global leader in gold and copper mining, is known for its commitment to operational excellence and responsible mining, focusing on long-term partnerships that drive economic value in host countries.
