Commodities
China’s Zijin Buys Ghana Gold Mine From Newmont for $1 Billion
- Akyem’s underground operations expected to begin from 2028
- Prices of the precious metal have hit record levels this year
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Zijin Mining Group Co. has bought the Akyem gold project in Ghana for as much as $1 billion in cash as the state-owned firm looks to add resources to meet its aggressive output targets.
The purchase from US-based Newmont Corp. will allow China’s largest listed metals producer to mine high-grade ore bodies from one of the world’s major gold belts, Zijin said in a filing to the Hong Kong stock exchange on Wednesday.