Barrick’s long-term copper outlook13 Jul 2025 08:45
Barrick’s long-term copper outlook
“We are seeing a shortage in supply, and growing demand particularly with the data centres, the movement to cleaner energy, and just generally as the emerging markets start investing in industrialisation, which is a big consumer of copper,” Bristow said.
So, everyone is in agreement that the copper demand is outgrowing the supply side.
Barrick Gold Corporation, the world’s second-largest gold producer after Newmont, is strategically expanding its portfolio.
The company is actively investing in increasing its copper output. This move aims to diversify its production and capitalise on the growing demand for copper, a crucial metal in various industries.
Barrick is implementing a $2 billion strategy to increase the annual output of its Lumwana copper mine in Zambia to 240,000 metric tons by 2028.
This initiative aims to double production and extend the mine’s operational life until 2057.
“Most of the copper industry today is only looking at marginal expansion,” Bristow said.