In the heart of the Democratic Republic of Congo, amidst a landscape of instability and shifting strategies, one gold mine stands tall: Kibali. This mine not only weathers the storm but shines, delivering impressive results. Let's dive into the details.
Barrick Mining's recent operational update, released in mid-November, revealed that Kibali produced a staggering 191,000 ounces of gold in the third quarter of 2025. This marks a 21% increase compared to the previous year. Building on this strong performance, the company has reaffirmed its annual targets and, importantly, plans to keep the mine operational well beyond 2037. This long-term commitment is crucial for the DRC, especially as it seeks new investments to develop additional large-scale gold mines.
However, the wider gold sector in the DRC faces significant challenges. In September, Mines Minister Louis Watum expressed the state's intention to boost investment in the gold segment, driven by both favorable global prices and growing disruptions across several sites due to heightened insecurity. Multiple industrial mines are currently idle, a stark contrast to Kibali's success.
For instance, Twangiza has been absent from the DRC's industrial production data since 2021 due to operational constraints, partially linked to the advance of M23 rebels in South Kivu. A similar situation exists at Namoya, also in South Kivu. Faced with persistent insecurity, Canada’s Banro Corporation sold the mine to Shomka Resources in 2020. According to Shomka’s official website, Namoya was under maintenance in 2024, with operations halted since 2020.
Artisanal gold output has also suffered. In 2024, exports from the artisanal segment plummeted by 66%, with further declines anticipated in 2025. This downturn contributed to a 3% drop in the DRC's overall gold exports. Fortunately, Kibali—which now accounts for 99% of industrial output—partially offset this decline. While Kibali's own production dipped by 10% in 2024 to 686,000 ounces, Barrick anticipates a rebound in 2025, projecting output between 688,000 and 755,000 ounces.
Kibali has become an exception in this turbulent mining landscape. Since its operations began in 2013, the mine has emerged as the country’s main gold producer. In that year, when Kibali produced 90,000 ounces (2.8 tons), national production increased by 117% year-on-year to 6.1 tons. Kibali’s impact strengthened in 2014, its first full year of operations. With 526,600 ounces (16.38 tons) produced, the mine accounted for about 68% of national output that year, with total production reaching 23.9 tons.
More than a decade later, Kibali remains the backbone of Congo’s gold industry. Despite intermittent tensions after the adoption of a new mining code in 2018, Barrick has maintained continuous operations. Annual output has fluctuated between 500,000 and 600,000 ounces, peaking at 814,000 ounces in 2019. These results positioned Kibali as Africa’s largest gold mine, only surpassed in 2024 by Ghana’s Ahafo mine.
As the DRC aims to strengthen its gold sector, Kibali is expected to play a central role. Barrick plans to operate the mine until at least 2037, supported by exploration results along the ARK-KCD corridor, which hosts the mine’s principal ore body.
Former Barrick CEO Mark Bristow highlighted the long-term vision behind Kibali, emphasizing the consistent delivery across production, partnerships, and reserve growth.
Improved performance, combined with government plans, could bolster national gold production. But here's where it gets controversial... Developments concerning Barrick’s future strategy have raised questions. The interim CEO, Mark Hill, suggested a focus on the company's U.S. and Dominican Republic gold mines.
And this is the part most people miss... This statement has sparked uncertainty regarding Barrick’s African assets, potentially even considering their sale, according to sources cited by Reuters. The company has not officially commented on this possibility, and AngloGold Ashanti, Kibali’s co-shareholder, has also remained silent. The two companies each hold 45% of the mine, while the state-owned miner SOKIMO holds 10%.
What do you think? Do you believe Kibali's future is secure, or are you concerned about Barrick's shifting focus? Share your thoughts in the comments below!
