BARRICK GOLD COMMITS TO EXPANDING COPPER PRODUCTION IN ZAMBIA
President Hakainde Hichilema has welcomed Barrick Gold’s continued investment in Zambia, describing the mining giant as a key partner in the country’s efforts to grow the economy and achieve its ambitious copper production targets.
Earlier today, the President met Barrick Gold Chief Operating Officer for Africa and the Middle East, Sebastiaan Bock, who provided an update on the company’s current operations and future plans in Zambia.
According to President Hichilema, the government was encouraged by reports that Barrick’s copper production is increasing, a development he said aligns with Zambia’s goal of producing 3 million tonnes of copper annually by 2031.
He noted that Barrick Gold and other private sector investors play an important role in stimulating economic growth, creating sustainable jobs and expanding economic opportunities for Zambians.
The President said the government’s long-term vision is to create an environment in which the private sector generates more employment than the public sector while contributing significantly to economic diversification and national development.
President Hichilema further stressed that increased investment, higher productivity and greater value addition in key sectors such as mining are essential to expanding Zambia’s economic output and improving living standards.
“We were pleased to learn that Barrick’s copper production is increasing, in line with our national vision of achieving annual copper production of 3 million tonnes by 2031,” he said.
The President expressed confidence that stronger collaboration between government and the private sector would help accelerate economic growth, double the size of the country’s Gross Domestic Product and deliver greater prosperity for all citizens.