Barrick Mining Advances $2 Billion Lumwana Expansion to Boost Copper Production

Barrick Mining ( (TSE:ABX) ) has issued an announcement.

Barrick Mining Corporation is advancing the $2 billion Super Pit Expansion Project at its Lumwana mine in Zambia, aiming to transform it into a Tier One copper mine. This expansion is expected to double copper production and significantly contribute to Zambia’s economy through local procurement and employment. The project aligns with Zambia’s Mining and Minerals 2031 policy, fostering regional development and environmental sustainability through initiatives like a REDD+ forest conservation program. Barrick’s efforts at Lumwana underscore its commitment to sustainable mining and strengthening partnerships with local communities and the Zambian government.

The most recent analyst rating on (TSE:ABX) stock is a Buy with a C$33.50 price target. To see the full list of analyst forecasts on Barrick Mining stock, see the TSE:ABX Stock Forecast page.

Spark’s Take on TSE:ABX Stock

According to Spark, TipRanks’ AI Analyst, TSE:ABX is a Outperform.

Barrick Mining’s strong financial performance and robust technical indicators lead the positive outlook. Earnings call insights reinforce the strategic focus, despite some operational challenges. Corporate events contribute positively, but geopolitical risks in Mali require attention.

To see Spark’s full report on TSE:ABX stock, click here.

More about Barrick Mining

Barrick Mining Corporation is a prominent player in the mining industry, focusing on the extraction and production of copper. The company is committed to expanding its operations and enhancing its market position, particularly in Africa, with significant investments in infrastructure and sustainable development initiatives.

Average Trading Volume: 3,788,114

Technical Sentiment Signal: Buy

Current Market Cap: C$48.75B

Find detailed analytics on ABX stock on TipRanks’ Stock Analysis page.