Modern Mining August 2024

MINING NEWS

Exploration success, capital investment to sustain Kibali’s production profile

Kibali, Africa’s largest gold mine, continues to deliver growth as its strong record of replenishing reserves and resources, and further investment in technology and capacity, position it to sustain its 750 000 ounces annual production past the current 10-year horizon to 15 years and beyond. Speaking to media, Barrick CE, Mark Bristow, said Kibali was not only Africa’s largest gold mine but also its most automated and, thanks to its three hydropower stations, a leader in renewable energy. “When we started building Kibali 14 years ago, this was one of the DRC’s most underdeveloped regions. The value we created and the infrastructure we built here have since transformed it into a new economic frontier and a flourishing commercial hub, with a community that has grown from 30 000 to over 500 000 people. We’ve promoted this growth through investment in community development and partnering with local businesses we have mentored. Our Azambi power station, for example, was built by an all-Congolese team. Since 2010, Kibali’s payments to local contractors and suppliers have amounted to almost $2.7 billion (CDF 7.6 trillion).” Based on its success, Barrick was ready to invest in new gold and copper opportunities in the DRC, provided the government continued to build alongside it. 

Barrick CEO Mark Bristow said that Kibali was built on partnerships with the government and its host communities.

NextSource Materials announces global anode expansion strategy update

capable of producing commercial scale graphite anode active material for lithium-ion batteries used in electric vehicle (EV) applications. The planned series of BAFs will leverage exclusive access to well established proprietary anode processing technology currently supplying anode active material to major EV automotive companies (OEMs). Stantec, a partner firm with NextSource, has completed a conceptual design and an AACE Class 5 evaluation to develop Battery Anode Facilities in selected sites in the KSA. The KSA BAF will be capable of producing natural graphite anode active material for lithium-ion batteries used in EV applications. Stantec has worked in conjunction with NextSource’s technology partners to develop a Middle East compliant plant design, using proven process technology to reduce future qualification times. 

Aerial view of the proposed BAF.

launched a strategic partner process to consider expressions of interest it has received for funding the battery anode facilities, both in the Middle East and globally. NextSource plans to construct, in stages, multiple BAFs globally in key jurisdictions that would be

TSX listed NextSource Materials has updated industry on its global anode expansion strategy, including positive results of a technical and economic study for the construction of a proposed battery anode facility (BAF) located in the Kingdom of Saudi Arabia (KSA). The company

4  MODERN MINING  www.modernminingmagazine.co.za | AUGUST 2024