The performance cements Africa’s position as Barrick’s best-performing region, contributing the highest year-to-date gold output and the lowest realised costs among all company divisions
Dar es Salaam. Barrick Gold Corporation’s African operations have emerged as the company’s strongest growth driver, posting an exceptional eight percent production increase in the third quarter of 2025, largely powered by higher output from Tanzania and the Democratic Republic of Congo (DRC).
The performance cements Africa’s position as Barrick’s best-performing region, contributing the highest year-to-date gold output and the lowest realised costs among all company divisions.
According to the firm’s quarterly results released this week, Africa’s attributable earnings before interest, taxes, depreciation, and amortisation (EBITDA) jumped by 65 percent quarter-on-quarter, boosted by strong results from the Kibali Mine in the DRC and North Mara in Tanzania.
Kibali, Barrick’s flagship operation in the DRC, recorded a 15 percent production increase in the third quarter, driven by higher mining volumes and improved ore grades.
The mine’s processing upgrades cut total cash costs by 7 percent compared to the previous quarter, underscoring operational efficiency gains.
In Tanzania, North Mara exceeded expectations with a 3 percent increase in production.
The mine’s combined underground and open-pit operations enhanced extraction efficiency, supported by cost optimisation and improved equipment utilisation across processing plants.
“The Tanzania operations benefited from operational optimisation initiatives that improved equipment utilisation rates and minimised downtime across processing facilities,” reads a statement in the financial results.
Barrick said these developments allowed the African region to expand profit margins significantly, benefiting from both increased production and reduced per-ounce costs.
Meanwhile, the company’s Lumwana copper mine in Zambia achieved a milestone by self-funding its major expansion project, even after a 7 percent dip in production during scheduled maintenance.
However, the otherwise stellar African performance was tempered by challenges in Mali, where four Barrick employees have been detained since November 2024 amid political and regulatory tensions following the government’s seizure of the Loulo-Gounkoto gold complex.
Despite the disruption, Barrick reaffirmed its full-year guidance, citing strong output in Tanzania and the DRC as key stabilisers of its regional portfolio.
The company’s Q3 results show Africa’s operations contributing disproportionately to Barrick’s global revenue of $4.1 billion, reinforcing the continent’s growing strategic importance in the firm’s global mining portfolio.
