By 
Industrial Resources Limited (IRL), a subsidiary of the Industrial Development Corporation (IDC), has reportedly signed an agreement with Barrick Gold Corporation to establish a strategic partnership designed to support Zambia’s ambitious mining sector growth targets.
The focus of this partnership would be on sustainable mining practices and local community development, prioritizing skills transfer, job creation, and infrastructure development.
This initiative reinforces Zambia’s commitment to responsible mining.
During a signing ceremony at the ongoing Investing in African Mining Indaba in Cape Town, IDC Chief Executive Officer, Cornwell Muleya, emphasized the significance of the agreement for Zambia’s mining industry.
Muleya stated that the partnership would contribute to Zambia’s goal of sustainable economic growth by harnessing its mineral resources while ensuring that local communities benefit.
“It aligns with the country’s vision to expand mining and boost copper production to three million metric tonnes annually,” he said.
He further explained that by combining IRL’s strong local presence with Barrick’s world-class mining capabilities, the partnership would accelerate exploration efforts, de-risk mining investments, and create value for Zambia’s economy.
“Through this partnership, we are positioning IRL as a key enabler in the country’s mineral value chain while ensuring that Zambians reap the benefits of their natural resources,” Muleya added.
Barrick President and CEO Mark Bristow also expressed confidence in the partnership, highlighting Barrick’s continued commitment to Zambia’s mining sector.
“By working closely with the government and local stakeholders, we aim to unlock new opportunities that will deliver long-term value for both the country and our shareholders,” Bristow stated.
He further emphasized that the partnership would ensure a balanced and sustainable outcome, with economic benefits shared equally among all stakeholders.
WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.
Comments