Barrick Gold Highlights African Investments at 2025 Mining Indaba
At the 31st edition of the Investing in African Mining Indaba, Barrick Gold, one of Africa’s top gold producers, made significant contributions.
The event, held in South Africa and concluding on Thursday, February 6, 2025, saw Barrick Gold’s CEO, Mark Bristow, presenting the company’s various investments in Africa and worldwide.
The 2025 edition of the conference, themed “Preparing the Future of Mining in Africa, Starting Today,” spotlighted Barrick Gold’s strong presence across the continent.
The company operates five gold mines in Africa, including Tongon in Ivory Coast, Loulo-Gounkoto in Mali, North Mara and Bulyanhulu in Tanzania, and Kibali in the Democratic Republic of Congo (DRC).
In 2024, these assets were set to produce an estimated 40 tonnes of gold, which accounted for more than a third of Barrick’s total projected gold output.
With 16 operating sites across 13 countries, Barrick produces both gold and copper, with its headquarters based in Toronto, Canada.
In its 2024 first-quarter report, Barrick Gold announced an attributable production of 341,000 ounces (9.6 tonnes) of gold from its African mines, marking a 2% year-on-year increase.
Africa was reaffirmed as the company’s second-largest contributor to gold production, after the United States. The company aimed to achieve a total production of 3.9 to 4.3 million ounces of gold in 2024, including 1.4 to 1.5 million ounces from Africa.
Outside Africa, Barrick operates in Canada, Argentina, Chile, the Dominican Republic, Papua New Guinea, Saudi Arabia, and the United States.
The Indaba Mining platform provided Barrick with a key opportunity to highlight its sustainable investments and activities in the global mining sector.
“We are here to talk about Barrick’s investments in Africa, which are sustainable. This is a chance for us to present our achievements worldwide, including our diversification into gold and copper production,” said Cyril Mutombo, Barrick’s Country Director in the DRC, who accompanied Bristow at the event.
As Country Director of Barrick in the DRC, Mutombo also shared updates on Kibali’s performance in 2024. Kibali, a Barrick subsidiary in the DRC, achieved a record rate of production in 2024, surpassing past performance.
The mine has shown strong improvement, particularly in the last quarter of 2024, and is well-positioned to continue building on this success in 2025 and beyond.
Despite operational challenges, Kibali continued its automation program and green energy investments. The mine’s photovoltaic plant is expected to provide green energy for six months of the year.
Mutombo also highlighted Kibali’s commitment to youth development, with scholarships and job opportunities for local young people.
In the context of ongoing security concerns in the east of the DRC, particularly in Goma, Barrick Gold strongly condemned the violence.
Bristow emphasized the importance of peace for investment and sustainable development, citing how the establishment of Kibali in Haut-Uélé in 2009 had helped provide jobs and reduce the influence of warlords.
“We are committed to the promotion of peace in the DRC. When peace prevails, we can invest and share the wealth created by our mines. We stand behind the Head of State in support of peace,” Bristow stated.
He further emphasized that when young people are employed in mining, they have less inclination toward violence, as they focus on work and community development.
By redirecting youth into economic activities, including mining, Barrick aims to contribute to long-term peace and stability, helping to secure sustainable growth for the DRC.
