Mark Bristow: “Kibali’s investment in the DRC has grown from 2.5 to 4.2 billion USD in 11 years”

Kibali’s investment in the Democratic Republic of Congo has reached 4.2 billion USD in eleven (11) years of mining.

This was announced by the President and CEO of Barrick, Mark Bristow, on October 27, 2022, during a press conference organized in Kinshasa.

Of these 4.2 billion USD, 2.20 billion USD were used for payments for companies and suppliers. The part of royalties and taxes required 1.16 billion USD while 193.3 million USD were allocated to infrastructure and support for community projects. A total of 840 million USD was directed to wages.

This increase in investment sufficiently proves the will of this mining giant to contribute to the development of the DRC because this investment was estimated at 2.5 billion USD in 2011 when Kibali was beginning the construction of its mine.

Another performance achieved during the last quarter of 2022, Kibali now has a specialized body that will manage the social development fund.
The Minister of Mines inaugurated it and this body consists of an endowment of 0.3% of the annual turnover of the mine.

To date, 13.7 million accumulated over the past three years have been allocated to this fund for community projects for this year 2022.

Among the projects, it is worth mentioning for example the new Catholic Church of Kokiza with a capacity of 2,500 places which has been officially handed over.

Two modern schools were built in the third quarter of 2022.

Also as part of development projects, the concrete road of Durba is now complete.

Regarding the “Our life in sharing” project, two institutions received a check for $10,000. It is first of all the abbot Koko who is very active in the recovery of orphaned children. Then, Mrs. Néné Ngoma who works in a program for the reintegration of women saw her efforts being rewarded by Mark Bristow.

The two personalities each received a symbolic check on the sidelines of this press conference.