Exploration Success Secures Kibali’s Future
Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) – The ability of Africa’s largest gold mine to replace its reserves beyond depletion will secure its position as one of Barrick Gold Corporation’s Tier One1 assets well into the future, president and chief executive Mark Bristow said here today
All amounts expressed in US dollars
KINSHASA, Democratic Republic of Congo, Oct. 27, 2022 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) – The ability of Africa’s largest gold mine to replace its reserves beyond depletion will secure its position as one of Barrick Gold Corporation’s Tier One1 assets well into the future, president and chief executive Mark Bristow said here today.
Speaking to local media, Bristow said the 13 year old mine, which has just improved its performance for the third consecutive quarter, still had an enormous upside. With its exploration prospect pipeline continuing to expand, it was well set to maintain its business plan for at least another 10 years.
Kibali’s underground operations are being further extended by two years through the addition of the 11,000 Lode to the mine plan. This lode continues to deliver promising results, unlocking additional value, and remains open down plunge. Drilling is also under way at the Mengu Hill, Agbarabo, Rhino, Zambula and Makoro targets which are showing potential as additional underground and open pit satellites.
