lumwana

The Lumwana copper mine is located in Zambia, in one of the most prospective copper regions in the world. Lumwana ore, which is predominantly sulfide, is treated through a conventional sulfide flotation plant, producing copper concentrate for smelting.

Lumwana produced 271 million pounds of copper in 2016, at a cost of sales of $1.16 per pound, and all-in sustaining costs of $1.97 per pound.1 Proven and probable copper reserves as of December 31, 2016, were 2.68 billion pounds2 (207.6 million tonnes, grading 0.586%).

Production in 2017 is anticipated to be 250-275 million pounds, at a cost of sales of $1.20-$1.40 per pound, and all-in sustaining costs of $2.10-$2.30 per pound.1

Map

Performance

271,000,000 Pounds of copper produced in 2016 2,683,700,000 Pounds of proven and probable copper reserves
Date Download Description
January 1, 2013 files/design/bodybg/lumwana.jpg
Operations > Cooper > Lumwana

Footnotes

  1. “All-in sustaining costs” per pound is a non-GAAP financial performance measure. “All-in sustaining costs” per pound begins with “C1 cash costs” per pound and adds further costs which reflect the additional costs of operating a mine, primarily sustaining capital expenditures, general & administrative costs and royalties. Barrick believes that the use of “all-in sustaining costs” per pound will assist investors, analysts, and other stakeholders in understanding the costs associated with producing copper, understanding the economics of copper mining, assessing our operating performance, and also our ability to generate free cash flow from current operations and to generate free cash flow on an overall company basis. "All-in sustaining costs" per pound is intended to provide additional information only, does not have any standardized meaning under IFRS, and may not be comparable to similar measures of performance presented by other companies. This measure should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Further details on these non-GAAP measures are provided in the MD&A accompanying Barrick's financial statements filed from time to time on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.

  2. Estimated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. Estimates are as of December 31, 2016, unless otherwise noted. Complete mineral reserve and mineral resource data for all mines and projects referenced on this website, including tonnes, grades, and ounces, can be found on pages 88-93 of Barrick’s Fourth Quarter and Year-End 2016 Report.
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