Canadian miner shifts focus to Zambia with $2 billion investment deal amid Mali tensions

Canadian mining giant Barrick Gold Corporation is ramping up its investment in Zambia with a $2 billion expansion plan, a move seen as a strategic pivot amid escalating tensions with Mali’s military-led government.

Barrick Gold Corporation is investing $2 billion in expanding the Lumwana copper mine in Zambia to enhance production capabilities. The emphasis on Zambia comes amidst Barrick’s ongoing legal disputes with the Mali government concerning mining agreements.

The expansion includes doubling copper output and introducing new infrastructure like a high-capacity processing plant and energy supply lines.