Kibali Mining Company’s Transformative Role in DRC’s Gold Industry
Panelists at the World Gold Day event organized by the Chamber of Mines and the Federation of Congolese Companies (FEC) discussed the remarkable contributions of Kibali mining company to the Democratic Republic of Congo (DRC) over its 14-year existence.
During the panel discussion on “the pillars of the revival of the gold industry in the DRC,” Cyril Mutombo emphasized that the Congolese population should benefit from the economic impact created by mining companies in the gold sector. He noted that Africa produces only 45% of the world’s gold, highlighting the enormous potential that exists.
The DRC has witnessed a significant increase in gold production, from less than 5,000 kg in 2012 to approximately 30,000 kg in 2022. This represents a substantial leap in the industry.
Cyril Mutombo, the Managing Director of Barrick DRC, pointed out that five of the top ten gold mines globally are operated by Barrick, including two in Africa, Mali, and the DRC.
Kibali serves as a model for the revival of the gold industry in the DRC, with its remarkable economic impact on the country. Over its 14 years of operation in the DRC, Kibali has transformed the remote area of Doko into a well-developed city, creating wealth for both the current and future generations.
This impact is evident through various initiatives: 30 schools built and rehabilitated, two higher education establishments, scholarships awarded, state exam fee coverage for students, capacity-building programs, community centers, agricultural land development, clinics, water sources, infrastructure development, and more.
Cyril Mutombo emphasized that Kibali has established an economic hub in the North-East of the DRC and has created lasting value over 14 years.
In terms of future prospects, Cyril Mutombo highlighted several key factors necessary for building a thriving gold industry in the DRC, including understanding the current situation, the role of various stakeholders, leveraging the transformative power of mines, state involvement, the legal framework, and distinguishing between artisanal and industrial mining.
These discussions, initiated by Prince Nyampala and organized in collaboration with the Chamber of Mines of the DRC, revolved around the theme: “gold, a structuring pillar of the development of the Democratic Republic of Congo.”
