NORTH-WESTERN Province is poised for a massive transformation after mining giant Barrick announced a US$2 billion investment into Lumwana Mine that will not only double copper production but also deliver a new airport, a modern town and an industrial park in the province.
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Speaking during a media engagement last night in Lusaka, Barrick president CEO Mark Bristow said the mining giant had moved beyond simply extracting minerals, committing to long-term infrastructure development that will benefit communities long after mining operations come to an end.
The CEO announced that the mining company has started the construction of a new town in Maniama area, a modern airport with the potential for international status, and an industrial park that has already attracted US$300 million worth of investor interest.
“We are creating an ecosystem that will support industries and businesses even beyond mining,” he said.
Bristow revealed that since 2019, the mining company has contributed US$4 billion to the Zambian economy and paid US$1 billion in taxes and royalties to government.
He further added that Barrick is also partnering with the government to explore untouched areas of the Copperbelt and develop a carbon credit programme in surrounding forests as part of efforts to promote sustainable mining.
“When we took on the management of Barrick in 2019, we set out to really build something,” Bristow said, proudly stating that Lumwana Mine has now grown to become one of Zambia’s top five taxpayers, adding significantly to the national treasury.
Barrick currently processes about 50 million tonnes of ore annually, employs 97 percent Zambians, with 81 percent of its expenditure being spent locally.
The US$2 billion investment comes at a time when copper prices are soaring on the global market, with Zambia positioning itself to benefit from the demand for the mineral driven by green technologies such as electric vehicles and renewable energy.
With the mine projected to operate for another 37 years, Bristow said Barrick is determined to ensure that Lumwana becomes a model for responsible mining and inclusive economic growth in Zambia.
The investment is a boost to President Hakainde Hichilema’s agenda of increasing copper production by a million tonnes this year and three million by 2031, as well as attracting large-scale investments in the mining sector.
Story and picture by George Musonda
Kalemba July 11, 2025
