Zijin

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

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

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…
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