DRC: Kibali Completes 7 out of 11 Projects Worth $8.9 Million
The mining operator, Kibali, has successfully completed 7 out of the 11 projects specified, with a total estimated cost of $8.9 million to be disbursed over the next five years. Mark Bristow, President and CEO of Barrick, made this announcement during the final press conference of 2023 on October 5th.
Bristow emphasized the transformative impact of responsible mining on the economies of underdeveloped and developing nations.
He highlighted the importance of strong partnerships between mining operators and governments in benefiting all stakeholders, especially host countries and their communities.
Regarding the Mine Community Development Fund, funded by allocating 0.3% of the annual turnover, it now encompasses a portfolio of 44 projects.
Throughout the current year, Kibali has disbursed over $180 million to Congolese suppliers while continuing to invest in community development initiatives.
Furthermore, Bristow pointed out Kibali’s commitment to creating sustainable value through local partnerships. The majority of Kibali’s electricity requirements are met by its three hydroelectric plants, with plans underway for a 16 MW solar park complemented by a battery energy storage system. This initiative aims to bolster hydroelectric energy supply during the dry season.
Upon completion, the mine will operate entirely on renewable energy for half of the year, resulting in a reduction of greenhouse gas emissions by 19.7 kt CO2 annually.
In terms of environmental efforts, Kibali is establishing itself as a biodiversity leader, currently assessing the transfer of an additional 30 white rhinos to Garamba National Park. Earlier this year, 16 rhinos were successfully reintroduced as part of an initiative spearheaded by Barrick.
