Newmont has agreed to sell a gold mine in Ghana to a Chinese miner for $1.0 billion, the latest divestiture by the world’s biggest gold miner as it turns its focus to copper.

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.

CHINA’S Zijin Mining Group will buy the Akyem Gold Mine Project in Ghana from US-based Newmont for US$1 billion, the companies said on Wednesday (Oct 9). Read more at The Business Times.

US-based gold major Newmont has agreed to sell its Akyem mine, in Ghana, to Chinese mining giant Zijin Mining for up to $1-billion in cash. The sale forms part of the miner’s ongoing strategy to offload noncore assets following the closing of its acquisition of Newcrest Mining in 2023.

China’s Zijin Mining Group announced Wednesday that it will purchase the Akyem Gold Mine Project in Ghana from Newmont Corp. (NYSE:NEM) for $1 billion. Newmont said it has participated in an ongoing strategy to divest from non-core assets as the operation shifts focus to tier-one assets.

American gold mining company, Newmont Corporation ($NEM) has agreed to sell its Akyem Gold Mine project in Ghana to China-based Zijin Mining Group

Newmont agrees to sell Akyem gold mine in Ghana to Zijin Mining for up to $1B in cash, as part of strategic focus on Tier 1 assets.

Ghana has a gold problem: illegal mines, known as 'galamsey', where men work without proper protective equipment. It threatens their lives – and the environment.