11:02 AM EDT, 03/20/2024 (MT Newswires) -- Barrick Gold ( GOLD ) said Wednesday that it has entered into a partnership with the government of the Democratic Republic of the Congo to invest in new gold and copper opportunities in DRC From Kibali Base.

"Kibali has transformed what was previously the disadvantaged north-east region of the country into a new economic frontier and a flourishing commercial hub," Mark Bristow, president and chief executive of the company, said. "Of our $5 billion investment in the DRC, more than half has been spent with local contractors and suppliers, many of whose growth into substantial businesses we have promoted by enhancing their commercial and technical skills and providing them with the opportunities to exercise these. Kibali's third hydropower station, for example, was built by an all-Congolese team."

The company's shares edged up 0.5% on last look on Wednesday.

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