Newmont Sells Ghana Gold Project to State-Owned Zijin Mining for $1 Billion in Cash

Oct 9, 2024, 01:36 AM

Newmont Corporation has agreed to sell its Akyem gold project in Ghana to China's state-owned Zijin Mining Group for $1 billion in cash. This transaction is part of Newmont's strategy to divest non-core assets and focus on its tier one assets. The sale is expected to bolster Zijin Mining's resources to meet its aggressive output targets. Treadstone and Citi have been tapped to facilitate the $1 billion sale.