- Barrick Gold (TSX:ABX) revealed significant near-mine discoveries within trucking distance of a plant that are expected to keep growing the Kibali mine in the Democratic Republic of the Congo
- The newly defined ARK target has the potential to deliver, through additional exploration, a high-grade multi-million-ounce orebody.
- The company is also consolidating new prospective grounds for gold and copper to expand its presence in the DRC
- Shares of Barrick Gold are down 1.29 per cent to C$26.76 as of 12:58 pm ET
Barrick Gold (TSX:ABX) revealed significant near-mine discoveries within trucking distance of a plant that are expected to keep growing the Kibali mine in the Democratic Republic of the Congo (DRC).
The company stated in a news release that the newly defined ARK target has the potential to deliver, through additional exploration, a high-grade multi-million-ounce orebody.
In tandem with this, the KCD downdip extensions support the mine’s ability to keep replacing reserves that have been depleted by mining with high-quality ounces. The mine is on pace to meet its production and cost guidance for 2024.
Kibali is currently collaborating with the DRC government on a series of initiatives intended to enhance its local content initiatives in the region which will benefit more than 500 local companies.
Similarly, 41 of the 44 projects targeted under Kibali’s community development fund have been completed while nine of the 14 projects supported by the mine’s Cahier des Charges initiative are also nearing completion.
Barrick Gold is a Canada-based gold and copper producer that has ownership interests in producing gold mines in Argentina, Canada, Cote d’Ivoire, the Democratic Republic of the Congo, the Dominican Republic, Mali, Tanzania and the United States.
Shares of Barrick Gold (TSX:ABX) are down 1.29 per cent to C$26.76 as of 12:58 pm ET.
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