Deal #4368

Barrick Gold Corporation acquired the mine from Equinox Minerals. Barrick Gold Corp. was planning to idle its open-cast Lumwana mine because of low copper prices and the new royalty system that replaces a tax on profits with levies on sales of as much as 20 per cent (2014). Barrick Gold has cancelled plans to cease operations at its Lumwana copper mine after Zambia's Government announced a reduction in mining royalties (2015).