African Continent's Key Minerals: Canada's Barrick Zambia Copper Production Expected to Increase by 41% by September 2025
¬ Barrick's Lumwana Copper Mine in Zambia is expected to produce 109,000 tons of copper by September 2025, an increase of 41% compared to the same period last year
¬ The company expects its full-year copper production in 2025 to reach between 125,000 and 155,000 tons
¬ Barrick Gold is investing 2 billion dollars to build a new processing plant, aiming to increase the annual capacity of the Lumwana mine to 240,000 tons by 2028
Barrick Gold announced that the copper production from its Lumwana mine in Zambia for the first nine months of 2025 increased by 41% year-on-year, reaching 109,000 tons, compared to 77,000 tons in the same period last year. The company disclosed these figures in its third-quarter financial report released on November 10.
The production growth reflected a 27% year-on-year increase in the third quarter, mainly due to improved ore grades and recovery rates. As of September, the Lumwana mine had produced 109,000 tons of copper, reaching 88% of its total 2024 annual output of 123,000 tons.
Barrick Gold expects the copper production at the Lumwana mine in 2025 to be between 125,000 and 155,000 tons. The company plans to gradually enhance its operational capacity according to its long-term expansion plan, aiming to achieve a production level exceeding that of 2024 in 2025.
This mining giant is investing 2 billion dollars to build a new processing plant in Lumwana, aiming to increase the annual output to 240,000 tons by 2028. This project is part of Barrick Gold's strategy to meet the growing global demand for copper, which is driven by energy transition and infrastructure development needs.
Zambia is the second-largest copper producer in Africa and plans to increase the country's copper output to 3 million tons by 2031. The Zambian government aims to reach 1 million tons of production by 2025, while the output in 2024 was 820,670 tons.
Source: ecofinagency
Original: www.toutiao.com/article/1848509290290185/
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