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How Newmont’s Akyem Ghana gold mine has draws Chinese interest

Newmont Corp. has kicked off the sale of its Akyem gold mine in Ghana, which is attracting interest from potential bidders including Chinese producers amid soaring prices for the metal, people with knowledge of the matter said.

Newmont is working with Citigroup Inc. on the disposal and they have started sounding out prospective suitors, according to the people. Shandong Gold Mining Co. and Zijin Mining Group Co. are among companies showing early interest in the asset, the people said, asking not to be identified because the information is private.

Chifeng Jilong Gold Mining Co. is also studying Akyem, said the people. Australian miner Perseus Mining Ltd. said last month it would consider the asset as well.

Deliberations are at an early stage and suitors could decide not to proceed with bids, the people said. Representatives for Newmont, Citigroup, Shandong Gold and Zijin declined to comment. A spokesperson for Chifeng Jilong didn’t reply to a request for comment.

The sale of Akyem is part of Denver-based Newmont’s effort to raise $2 billion in cash through divestitures in the wake of its acquisition of Newcrest Mining Ltd. in November. On top of Akyem, Newmont wants to sell four gold mines in North America and one in Australia.

Akyem produced 420,000 ounces of gold a year at the end of 2022, the company’s website shows. The precious metal surged above $2,200 an ounce this week for the first time and it has rallied about 10% in a month.

 

Source: bloomberg.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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