Newmont Archives - Wontumi Online

16 Oct

Chinese Mining Company To Acquire Ghana’s Akyem Gold Mine From Newmont In $1 Billion Deal

wontumionlineBusinessAkyem Gold Mine, Newmont

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…

09 Oct

China’s Zijin Buys Ghana Gold Mine From Newmont For $1 Billion

wontumionlineBusinessGold mine, Newmont, Zijin

China's Zijin Mining Group (601899.SS), opens new tab will buy the Akyem Gold Mine Project in Ghana from U.S. based Newmont Corp (NEM.N), opens new tab for $1 billion, the companies said on Wednesday. The sale is a part of Newmont's ongoing programme to divest non-core assets as the company makes a strategic shift to focus on its tier one assets, the U.S. gold producer said. Newmont is expected to receive cash consideration of $900 million upon the deal's closure, with a further $100 million upon satisfaction of certain conditions. The deal will see Zijin's unit Gold Source International acquiring…

26 Oct

Obiri Boahen Sues Newmont For Trespassing, Destruction Of Property

wontumionlineNewsNana Obiri Boahen, Newmont

Nana Obiri Boahen, a private legal practitioner, has filed a writ at the Sunyani High Court against the Newmont Ahafo North Project, for causing extensive damages to his farmland and other property running into millions of Ghana cedis. He is, therefore, seeking an order from the court to compel the mining giant to pay adequate compensation for the destruction caused. An accompanying affidavit filed by the “Enso Nyame Ye Chambers”, a Sunyani-based legal firm and counsel, is further praying the court to award general damages to the plaintiff for “trespass, inconvenience and trauma.” A copy of the affidavit, made available…

22 Dec

BoG Buys 26,000 Ounces Of Gold From Newmont

wontumionlineBusinessbank of ghana, Newmont

Newmont becomes the first gold mining company in Ghana under the Domestic Gold Purchasing Programme to sell gold to the Bank of Ghana following the procurement of 26,000 ounces of gold between May and November this year by the central bank. This forms part of the Domestic Gold Purchasing Programme to shore up Ghana’s foreign reserves. Giving details on the procurement, the director of communications at Newmont Africa, David Johnson, said 3,500 ounces were procured by the central bank in May this year, while the remaining 22,500 ounces were bought between October and November 2022. This makes Newmont the first…