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Barrick touts Kibali mine quarterly performance

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(Kitco News) - The Barrick Gold operated Kibali mine in the DRC produced 191,612 ounces of gold in the first quarter of 2021, keeping it on plan and on track to achieve its full year target, Barrick president and chief executive Mark Bristow told a media briefing here today.

The company said that the mine’s underground operation again drove production and continuing improvements in the plant’s throughput and recovery rates also contributed to Kibali’s on-plan delivery. Efficiency improvement projects completed during the quarter, including an upgrade of the hoisting infrastructure, are expected to boost its performance further.

Power generation costs benefitted during the quarter from higher river levels as the mine’s three hydropower plants supplied the bulk of its energy requirements. The power grid was further enhanced by the installation of a 9MW battery support system. The new system will also decrease the need for diesel-generated backup, in line with the mine’s strategy of reducing its carbon footprint.

Looking ahead, Kibali continues to replace resources and secure further open pit opportunities to balance its underground mine, and to replace reserves and add flexibility to the operation in support of its robust 10-year plan. Since the development of Kibali started in 2010, it has contributed $3.5 billion to the DRC’s economy, added Bristow.

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