In Congo, Barrick sees gold reserves extending Kibali mine to 2040

October 13, 2021 / dlvr.it / Article Link

Canada's Barrick Gold Corp has discovered geological extensions at its Kibali gold mining joint venture in Democratic Republic of Congo that will prolong the life of the mine to 2040, Chief Executive Mark Bristow said in an interview.A new Central Bank governor and legislature broadly supportive of President Felix Tshisekedi should aid the release of $500 million cash left over after Kibali repatriated 60% of its revenue and paid in-country expenses, he said.Under Congo's 2018 mining code, miners must return 60% of revenue from mineral sales to the country to fund economic development.Read full news

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