Barrick Gold's Kibali mine, in the Democratic Republic of Congo (DRC), produced 191 612 ounces (oz) of gold in the first quarter of 2021, putting it on course to meet its full-year production target.
Kibali is projected to produce between 800 000 and 850 000 oz of gold this year on a 100% basis from 808,134 oz of gold in 2020.
Its 2021 attributable gold production forecast is between 350 000 and 380 000z from the previous year's 364 000 oz of gold.
The mine's underground operation was the primary driver of production while continuing improvements in the plant's throughput and recovery rates also contributed to Kibali's on-plan delivery.
"Also, efficiency improvement projects completed during the quarter, including an upgrade of the hoisting infrastructure, are expected to boost the mine's performance further," said Barrick.
The average price of gold in 2020 was $1,770/oz, a 27% increase over the $1,393/oz average in 2019. This $1,770/oz average was a new record high, surpassing the previous high of $1,669/oz reached in 2013, and represented the fifth straight year of annual average price increases.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
Exclusive
Helga Pombal: Angola's Stardiam finds solution to the threat posed by lab-grown diamonds
Stardiam manager of production Helga Pombal told Rough&Polished's Mathew Nyaungwa on the sidelines of the Angola International Diamond Conference that lab-grown diamonds are creating a parallel market for more accessible stones, combined with lower...
11 november 2024
Ellah Muchemwa: ADPA to launch Africa's first diamond mining standard next year
The African Diamond Producers Association (ADPA), which is based in Luanda, Angola, and represents the interests of mainly African diamond producers and those with the potential to produce diamonds, will next year launch the Sustainable Development...
04 november 2024
Dmitry Fedorov: I want our jewelry to be displayed at a museum in the future
Dmitry Fedorov is the founder of the eponymous jewelry house. His main focus is the creation of Orthodox-inspired premium luxury jewelry of high artistic merit. He told Rough&Polished about his journey in the jewelry industry, about choosing the ‘Orthodox...
28 october 2024
Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki
The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...
14 october 2024
James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration
London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...
07 october 2024
