By Emelia B. Addae
Koforidua, April 17, GNA – Zijin Mining Group Co. Ltd. has officially completed its acquisition of the Akyem Gold Mine Project in Ghana, the company announced in a press statement copied to the Ghana News Agency on Thursday.
The successful acquisition follows Zijin Mining’s initial announcement on October 9, 2024, outlining its proposal to acquire a 100 per cent interest in the project from Newmont Corporation through its overseas wholly owned subsidiary.
With all conditions precedent in the agreement either satisfied or waived, the transaction was finalized on April 16, 2025, Beijing time, the statement said.
The Akyem Gold Mine, located within one of the world’s major gold metallogenic belts, has demonstrated stable operations, boasting thick ore bodies with strong mineralisation continuity.
The open-pit mine, currently in production, operates with a conventional carbon-in-leach process and has a designed processing capacity of 8.5 million tonnes per year.
Production figures from 2021 to 2024 indicate steady output, with the mine yielding 11.9 tonnes of gold in 2021, 13.1 tonnes in 2022, 9.2 tonnes in 2023, and 6.4 tonnes in 2024.
In 2023, the project recorded an operating income of USD 574 million and a net profit of USD 128 million.
Zijin Mining Group emphasized the project’s favourable mineralisation conditions and substantial potential for further exploration and reserve growth.
With gold prices seeing a significant surge, the company anticipates increased resource availability and reserves through additional geological studies and advancements in mining and processing technology.
These efforts aim to enhance the mine’s lifespan and boost production, aligning with the Group’s long-term gold production targets.
Zijin Mining Group, a global leader in the mining industry, is engaged in the exploration and extraction of various metals, including gold, copper, zinc, lithium, silver, and molybdenum.
The company ranks No. 267 in the 2024 Forbes Global 2000 list, No. 5 among metals miners, and No. 1 among global gold companies.
Zijin Mining also holds positions in the 2024 Fortune Global 500 list at No. 364 and the Fortune China 500 list at No. 91.
The statement reaffirmed Zijin Mining Group’s commitment to sustainable and responsible mining, encapsulated in its vision of “Mining for a Better Society.
GNA
DL/AD