World’s Biggest Gold Miner Newmont to Sell Akyem Mine to Zijin for $1 Billion

Oct 9, 2024, 01:39 AM

Newmont Corporation, the world’s biggest gold miner, has agreed to sell its Akyem gold project in Ghana to China's Zijin Mining Group for up to $1 billion in cash. This transaction is part of Newmont's ongoing strategy to divest non-core assets and focus on its tier-one assets. The sale also highlights Zijin Mining's aggressive expansion efforts to increase its resource base and meet output targets. Treadstone and Citi have been tapped to facilitate the sale, according to Reuters. Newmont trades under the ticker $NGT.