Newmont said it will sell its Akyem operation in the Republic of Ghana to China’s Zijin Mining Group under a definitive agreement, for cash consideration of up to $1 billion.
The sale is part of Newmont’s ongoing program to divest non-core assets as the miner makes a strategic shift to focus on its Tier 1 assets.
The transaction is expected to close in the fourth quarter of 2024, contingent on satisfaction of customary conditions precedent, including regulatory approvals. Proceeds from the deal will support Newmont’s capital allocation priorities, including strengthening the balance sheet and returning capital to shareholders.
Source: Newmont Corp