Barrick Copper Production Growth Surges as Company Rebrands for the Future

Barrick Copper

Strong Q1 Output Drives Expansion Strategy

Barrick copper production growth reached 44,000 tonnes in Q1 2025, up 10% year-on-year. The company’s Lumwana mine in Zambia delivered 27,000 tonnes, marking a 23% increase from Q1 2024 and accounting for over 60% of total copper output. This momentum continues a trend of rising quarterly output.

Copper Sales and Cost Performance Improve

Barrick sold 51,000 tonnes of copper in Q1, a 31% increase year-on-year. Meanwhile, cash costs fell by 6% to $2.25/lb, underscoring efficiency improvements. The miner reaffirmed its full-year copper production guidance of 200,000–230,000 tonnes, up from 195,000 tonnes in 2024.

Expansion Projects and Name Change Signal Strategic Shift

Barrick copper production growth will be further supported by a nearly $2 billion Lumwana expansion and new production from the Reko Diq project in Pakistan, scheduled for late 2028. Reflecting this copper-focused strategy, shareholders approved the name change from Barrick Gold to Barrick Mining.

The Metalnomist Commentary

Barrick’s pivot to copper reflects the metal’s rising strategic value in the energy transition. With expansions in both Africa and South Asia, the company is positioning itself as a long-term leader in global copper supply.