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Barrick Gold CEO Mark Bristow has described Zambia’s President as a ‘breath of fresh of air’ after meeting the recently ordained Hakainde Hichilema at the 2022 Investing in African Mining Indaba in Cape Town.

Hichilema’s government has embarked on a number of business-friendly reforms since his election in August 2021 and pledged to boost growth and repair relations with mining companies, which had deteriorated amid attempts by the former regime to increase royalty taxes on miners.

In a speech during a presidential address at Mining Indaba yesterday, Hichilema rejected the previous government’s policy of resource nationalism. “Let me reiterate, our government support empowerment without resource nationalism,” he told the audience.

“He is a breath of fresh air,” Bristow said at Indaba following Hichilema’s address. “Zambia is a good story,” he added. Barrick continues to operate the giant Lumwana copper mine in Zambia, despite it being a rumoured divestment following the merger with Randgold Resources in 2019.

Now, the world’s second largest gold producer is looking to add more Zambian assets to its portfolio, according to a Bloomberg report. Zambia is Africa’s second largest producer of copper, a strategic metal in the eyes of Bristow and leading economists around the world.

The central African copperbelt runs through Zambia and the Democratic Republic of Congo (DRC), another jurisdiction Barrick is focusing its exploration efforts on. “We’ve tried to invest both in the gold industry and more recently in the copper industry,” Bristow said. “We’ll find opportunities because DRC is so well endowed.”

2 COMMENTS

  1. I swear this man has been made to credit the president because of the bad first quantum minerals saga that has received a negative reaction from the general public.

    We know this game.african politics are easily predicted .

    In my opinion BARRICK gold mine should have been HH’S mining firm of choice not first quantum minerals.

    BARRICK PAYS well and it takes very good care of it’s employees.ask madam TAMBATAMBA who once served as it’s human resource at one point .

    First quantum minerals yena KUWAYAWAFYE BAKATEKA.mamukasa iyi yena and you know it .if MWANAWASA was alive he would have told you that BARRICK is a way to go not first quantum.

    ZAMBIANS at some point saw how transparent BARRICK is when the company reduced all housing rentals to favour it’s employees.

    NOMBA first quantum minerals is still struggling to refund it’s employees what it owes it’s employees for house rentals.

    BARRICK CEO is a listening man and he stands with his employees not ba pascal.that boy is arrogant and rude.

    First quantum minerals is used with its self imposed policies and these guys don’t fear anyone at all.

    Let’s wait and see how unpopular these dealings are going to make the UPND.its just a matter of time

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