BARRICK PAYS $266 MILLION TO ZAMBIA IN TAXES AND ROYALTIES:
Barrick Gold Corporation paid US$266 million in taxes and royalties to the Zambian Government through its Lumwana copper mine in 2025, representing an increase of US$121 million from the previous year.
The figure, contained in Barrick’s 2025 Tax Contribution Report, shows that Lumwana’s tax and royalty payments nearly doubled from US$145 million recorded in 2024.
Barrick said its overall economic contribution to Zambia reached US$1.2 billion in 2025 when taxes, royalties, salaries, dividends and expenditure on local suppliers were taken into account.
The Lumwana mine also paid US$41 million in taxes collected on behalf of employees and other parties during the year, compared with US$26 million in 2024.
The increased contribution comes as Barrick advances its approximately US$2 billion Lumwana Super Pit Expansion, a major investment expected to significantly increase copper production and transform the mine into a tier-one copper asset.
The company said the expansion forms part of its long-term investment in Zambia and is expected to further increase Lumwana’s economic contribution to the country.
Barrick, which wholly owns and operates Lumwana, employed 3,162 people at the mine as of December 31, 2025, compared with 2,838 employees at the end of 2024.
BARRICK’S GLOBAL CONTRIBUTION
Globally, Barrick reported a significant increase in its fiscal contribution across the 17 countries where it operates.
The mining company paid US$5 billion in taxes and royalties in 2025, up from US$2.9 billion in 2024.
Its total economic contribution to host countries also increased from US$12.4 billion in 2024 to US$15.8 billion in 2025.
Barrick said the figures reflected the broader economic impact of its operations beyond direct payments to governments, including employment, local procurement and support for businesses and supply chains.
During 2025, the company spent US$7.1 billion with more than 7,400 suppliers in its host countries, representing 75 per cent of its total procurement expenditure.
It also paid US$283 million in dividends to governments where applicable, while 96 percent of its global workforce was recruited locally in the countries where it operates.
LUMWANA EXPANSION
In Zambia, Lumwana remains a major contributor to the mining sector as Barrick prepares to significantly expand the operation.
The Super Pit project is expected to increase the scale of Lumwana’s operations and strengthen its role in Zambia’s copper industry.
The investment comes as Zambia seeks to substantially increase copper production and attract further investment into the sector, with the mining industry remaining central to the country’s economic development.