Metso has secured a major contract from Barrick Gold to supply critical process equipment for the Lumwana copper project in Zambia.
Valued at around €70 million ($78.12 million), this order will be included in the minerals segment’s third-quarter 2024 intake.
As part of the agreement, Metso will deliver a complete suite of equipment, encompassing systems for grinding, flotation, thickening, feeding, and filtration.
Markku Teräsvasara, Metso’s Deputy CEO and President of the Minerals Business Area, expressed appreciation for the partnership, stating, “We are honored to have been selected by Barrick as the strategic partner for this project.”
The design of the copper concentrate production process at Lumwana emphasizes sustainability and production efficiency, primarily utilizing equipment from Metso’s Planet Positive offering.
This project is anticipated to be crucial in addressing the growing demand for copper, which is vital for the global energy transition.
The expansion of the Lumwana project is essential for revitalizing Zambia’s copper industry and is expected to have a positive impact on the local economy. Once completed, Lumwana is projected to be among the world’s leading copper mines.
Earlier this year, Barrick Gold announced that it had accelerated the Super Pit expansion project at its Lumwana copper mine, with initial production scheduled for 2028.
The $2 billion (C$2.7 billion) project aims to produce approximately 240,000 tonnes of copper annually over a lifespan exceeding 30 years, with construction set to begin later this year.
The Lumwana mine, which previously underperformed, has undergone restructuring and re-engineering since Barrick refocused its strategy in 2019.
