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Zijin Mining Acquires Akyem Gold Project in Ghana from Newmont for $1 Billion, Operations Expected by 2028

Oct 9, 2024, 01:39 AM

China's Zijin Mining has acquired the Akyem gold project in Ghana from Newmont for $1 billion. This transaction comes amid rising global gold prices, which have reached record levels this year. The acquisition is part of Zijin's strategy to enhance its resources to meet aggressive output targets. The underground operations at the Akyem project are expected to commence in 2028. This deal highlights the growing interest in Ghana's gold mining sector, which has faced challenges related to illegal mining activities and environmental concerns.