MINING REFINING

Zijin to buy Newmont’s Akyem Gold Mine in Ghana for $1bn

Mon Oct 14 2024

Zijin Mining has announced the acquisition of the Akyem Gold Mine in Ghana from Newmont in a $1bn (7.08bn yuan) deal. The Akyem mine, one of Ghana’s largest gold operations, has been producing gold since October 2013. This move aligns with Zijin Mining’s goal to produce more than 100tpa of gold by 2028. The Akyem Gold Mine has an annual processing capacity of 8.5mt, with gold production in recent years reaching 11.9t, 13.1t and 9.2t.

The purchase of Akyem is Zijin Mining’s seventh gold mine acquisition since 2020, reflecting its ambition to expand its gold production capabilities. The Akyem Gold Mine holds gold resources of 54.4t with a high average grade of 3.36g per tonne (g/t), gold reserves of 34.6t at an average grade of 1.35g/t and an additional 83t as underground mining inventory.

Source: https://www.mining-technology.com