Metso Secures €70M Contract from Barrick Gold for Lumwana Copper Project Equipment

Metso has secured a significant contract from Barrick Gold for the supply of essential process equipment at the Lumwana copper project in Zambia.

Valued at approximately €70 million ($78.12 million), this order will be recorded in the minerals segment’s third-quarter 2024 intake.

Under the terms of the contract, Metso will provide a comprehensive suite of equipment, including systems for grinding, flotation, thickening, feeding, and filtration.

Markku Teräsvasara, Metso’s Deputy CEO and President of the Minerals Business Area, expressed gratitude for the opportunity, stating, “We are honored to have been selected by Barrick as the strategic partner for this project.”

The copper concentrate production process at Lumwana has been designed with a focus on sustainability and production efficiency, utilizing equipment primarily sourced from Metso’s Planet Positive offering.

This project is expected to play a crucial role in meeting the rising demand for copper, which is essential for the global energy transition.

The expansion of the Lumwana project is pivotal for revitalizing Zambia’s copper sector and is anticipated to positively impact the local economy. Once completed, Lumwana is expected to rank among the world’s leading copper mines.

Earlier this year, Barrick Gold announced that it had accelerated the Super Pit expansion project at its Lumwana copper mine, with initial production slated for 2028.

The $2 billion (C$2.7 billion) project aims to produce approximately 240,000 tonnes of copper annually over a lifespan exceeding 30 years. Construction is expected to commence toward the end of this year.

The Lumwana mine, which previously underperformed, has undergone restructuring and re-engineering since Barrick refocused its strategy in 2019.