16
Oct
China’s Zijin Mining Group is poised to acquire the Akyem gold mine project in Ghana from US-based Newmont Corporation in a $1 billion deal. The transaction, which includes $900 million in cash upon closure and an additional $100 million subject to certain conditions, is expected to be finalized in the fourth quarter of 2024. Through its subsidiary, Gold Source International, Zijin will take control of a Newmont subsidiary that owns the Akyem open-pit mine. As of December, Akyem held reserves of 34.6 tons of gold. Zijin has revealed plans to begin underground mining operations at the site by 2028, extending the mine’s…