Barrick Mining Corporation is developing a $2 billion “Super Pit” expansion at its Lumwana copper mine, aiming to double annual copper production from roughly 152,000 tonnes to 240,000–250,000 tonnes and transform the operation into a top-25 global copper producer. Construction is tracking on time and on budget through Q1 2026, with first copper from the expansion targeted for the end of Q1 2028.
Project Details
Key Issues / Risks
2026 capex tracking to the lower end of $750–850m guidance; a K2 billion uranium-exposure lawsuit against Lumwana Mining was dismissed by the company as baseless; election-period political uncertainty (see linked Global Strategic record) is a live risk to continuity of the favorable investment climate cited by Barrick's Zambia country manager
Latest Development (Detail)
Q1 2026 copper production of 49,000 tonnes in line with projections; mill building wall first lift completed, mill shells delivered to site, first structural steel deliveries expected by end of Q2 2026
What Happens Next
First copper from the expanded circuit targeted for end of Q1 2028; watch Q2/Q3 2026 construction updates for schedule confirmation.
Commercial Opportunity
Heavy civil and processing-plant EPC subcontracting, structural steel supply, and copper offtake positioning as Lumwana scales toward Tier One status.