Gold and copper mining company Barrick has initiated the development of the Lumwana super pit ahead of a $2bn (C$2.71bn) expansion pending a final investment decision.

If approved, the expansion will position the Zambian mine as a significant source of copper supply.

The feasibility study for the super pit expansion is expected to be completed by the end of the year, setting the stage for construction to commence in 2025.

Upon completion, the $2bn project could convert Lumwana into a long-lasting, high-yielding, top-25 copper producer and a Tier One copper mine.

The expansion initially involves doubling the throughput of the current process circuit and subsequently increasing mining volumes significantly.

The plant throughput will increase from 27 million tonnes (mt) to 52mt, effectively doubling the mine’s copper production from 120,000 tonnes per annum (tpa) to an average of 240,000tpa over the mine’s life.

The expansion of the processing plant is complemented by a gradual increase in total mining volumes, which are expected to grow from 150mt in 2025 to approximately 240mt in 2028, and then at an average rate of 290tpa from 2030 onwards.

Barrick president and chief executive Mark Bristow said: “We are also planning to build critical infrastructure, including an airstrip and an industrial supplier park. This will enable key suppliers to establish themselves in the area, creating an economic hub that will further fuel growth and development in the wider region.”