Barrick To Complete Feasibility Study For Lumwana Mine Expansion, Start Construction In 2025
Portfolio Pulse from Stjepan Kalinic
Barrick Gold (NYSE:GOLD) plans to complete a feasibility study for expanding its Lumwana copper mine by the end of the year, with construction starting in 2025. The expansion aims to double plant throughput and increase copper output, enhancing Barrick's position in the copper market. The project is expected to significantly boost cash flow and yield a high internal rate of return.
September 13, 2024 | 11:50 am
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Barrick Gold is set to expand its Lumwana copper mine, aiming to double production and significantly boost cash flow. The expansion will enhance Barrick's diversification into the copper market, with construction starting in 2025.
The expansion of the Lumwana mine is a significant development for Barrick Gold, as it will double copper production and improve cash flow. This positions Barrick more strongly in the copper market, which is expected to face a deficit. The project's high IRR and competitive cost profile further enhance its attractiveness, likely leading to a positive short-term impact on Barrick's stock price.
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