Barrick Grants Metso €70 million Contract for Equipment at the Lumwana Copper Plant

Barrick Gold Corporation has awarded Metso a substantial order to supply equipment for the copper concentrator plant as part of their Lumwana expansion project in Zambia's North-Western Province. This order encompasses essential equipment for grinding, flotation, thickening, feeding, and filtration processes. Valued at approximately €70 million, the order will be reflected in the Minerals segment's order intake for the third quarter of 2024.

Markku Teräsvasara, President of Metso's Minerals business area and Deputy CEO, expressed pride in being chosen as a strategic partner for this project. He highlighted that the design of the copper concentrate production process at Lumwana emphasizes both sustainability and production efficiency. Most of the equipment selected for this project is from Metso’s Planet Positive offering, which focuses on environmentally friendly solutions.

The Lumwana mine plays a pivotal role in Barrick's growing copper portfolio, which aims to meet the surging global demand for copper, particularly driven by the energy transition. This expansion is crucial not only for Barrick's operations but also for revitalizing Zambia's copper industry and bolstering the local economy. With the anticipated expansion, Lumwana is set to become one of the world’s leading copper mines, with an expected annual production capacity of 240,000 tons of copper.

As the world increasingly shifts toward renewable energy and electric vehicles, the demand for copper is projected to rise significantly. This makes the Lumwana project vital in supplying the necessary copper to support these green technologies. Barrick’s commitment to sustainable practices and economic development aligns with Metso’s vision of providing responsible solutions that contribute positively to the environment and local communities.

Overall, this collaboration marks a significant step in both companies' efforts to enhance production capabilities while adhering to sustainability principles. The Lumwana expansion not only represents a major investment in mining infrastructure but also showcases the importance of strategic partnerships in addressing global resource demands. As the project progresses, it is expected to yield substantial benefits for Barrick, Metso, and the Zambian economy, further solidifying Lumwana’s status in the global copper market.

Metso leads in sustainable technologies and comprehensive solutions for the global aggregates, minerals processing, and metals refining industries. By leveraging its product and service expertise, Metso enhances customers' energy and water efficiency, boosts productivity, and mitigates environmental risks, positioning itself as a partner for positive change. Based in Espoo, Finland, Metso has a workforce of over 17,000 employees spread across nearly 50 countries, with sales totaling around €5.4 billion in 2023.