Barrick Mining continues to strengthen its long-term commitment to the Kibali Gold Mine in the Democratic Republic of Congo (DRC), with ongoing feasibility studies aimed at evaluating opportunities to extend the life and value of one of Africa’s largest and most productive gold operations. The continued technical work reflects Barrick’s focus on unlocking additional value from Kibali’s extensive mineral resources while supporting the mine’s long-term production outlook.
In late June, mining professional Thijs Goense announced his appointment as Feasibility Studies Manager at Kibali, highlighting the mine’s ongoing evaluation of future development opportunities. In his new role, Goense will work alongside Kibali’s technical teams to advance feasibility studies, assess potential expansion projects and help move viable development opportunities towards implementation. While the appointment signals continued engineering and technical planning, it does not indicate that an expansion project has been approved. Instead, it reflects Barrick’s long-standing strategy of continually assessing opportunities to sustain production, optimise operations and maximise the value of its existing mining assets.
The feasibility work comes during a period of strategic transition for Barrick following leadership changes within the company. After the departure of former Chief Executive Officer Mark Bristow in 2025, Mark Hill was appointed Chief Executive Officer in 2026. Under the new leadership, Barrick has undertaken a review of its global portfolio with an emphasis on improving operational performance, strengthening shareholder returns and identifying long-term growth opportunities across its mining operations. Although market speculation has surrounded several of Barrick’s international assets, the company has made no announcement regarding the sale or restructuring of Kibali, which continues to be regarded as one of its flagship gold operations in Africa.
Barrick has consistently invested in exploration around Kibali to replace mined reserves and identify additional resources capable of supporting future production. Particular attention remains focused on the ARK-KCD corridor, an area that has demonstrated significant exploration potential and could contribute to extending the mine’s operating life through further resource growth. Ongoing drilling and geological studies continue to strengthen confidence in the continuity of the mineralised system, although Barrick has not disclosed a timeline for any potential expansion, capital investment requirements or a final investment decision. The current feasibility programme is therefore focused on evaluating technical and economic options before any future development proceeds.
Kibali remains one of the Democratic Republic of Congo’s most significant industrial mining operations and one of Africa’s leading gold producers. The mine operates as a joint venture between Barrick Mining, which holds a 45% interest, AngloGold Ashanti with 45%, and Congolese state-owned mining company Sokimo, which holds the remaining 10%. Because of its scale, production profile and strategic importance, any major decisions regarding the mine’s future development require close collaboration between all joint venture partners.
Since commencing production, Kibali has established itself as one of Africa’s benchmark gold operations through consistent production, ongoing exploration success and continued investment in operational efficiency. The mine has made a significant contribution to employment, export earnings, government revenue and local economic development within the Haut-Uélé Province, while supporting the growth of the DRC’s industrial mining sector.
For Barrick, Kibali remains a cornerstone of its African portfolio and reflects the company’s long-term approach to resource development through continuous exploration, reserve replacement and operational improvement. For the Democratic Republic of Congo, the operation continues to play an important role in strengthening the country’s gold industry and attracting international mining investment. As Barrick continues to assess growth opportunities across its global portfolio, the progress of feasibility studies at Kibali will remain closely watched by investors, industry stakeholders and government. Although no expansion decision has yet been announced, the continuation of these technical studies demonstrates the company’s commitment to evaluating opportunities that could enhance Kibali’s long-term value and sustain its position as one of Africa’s premier gold mining operations.
