Ghana: Chinese company to buy Newmont’s Akyem Gold Mine for $1 Billion

China's Zijin Mining Group has agreed to acquire the Akyem Gold Mine Project in Ghana from Newmont Corp for $1 billion.

Newmont will receive $900 million at closing and $100 million contingent on certain conditions.

Zijin’s subsidiary, Gold Source International, will take control of the project, with the deal expected to close in Q4 2024, pending regulatory approval.

Zijin highlighted the mine's profitability potential and is open to local entities taking a minority stake.

The sale aligns with Newmont's strategy to offload non-core assets and focus on its top-tier operations.