Zijin Mining has announced its acquisition of the Akyem Gold Mine in Ghana from Newmont for $1 billion (7.08 billion yuan).
As one of Ghana’s largest gold operations, the Akyem mine has been producing gold since October 2013. This acquisition aligns with Zijin Mining’s objective to produce over 100 tons of gold annually by 2028.
The Akyem Gold Mine boasts an annual processing capacity of 8.5 million tons, with recent gold production figures of 11.9 tons, 13.1 tons, and 9.2 tons in the past few years.
This purchase marks Zijin Mining’s seventh gold mine acquisition since 2020, underscoring its ambition to enhance its gold production capabilities.
The Akyem Gold Mine is estimated to hold gold resources of 54.4 tons at a high average grade of 3.36 grams per tonne (g/t), with gold reserves of 34.6 tons at an average grade of 1.35 g/t, plus an additional 83 tons classified as underground mining inventory.
