Newmont unlocks $100m payment as Ghana ratifies Akyem lease
US-based Newmont has unlocked a $100-million payment from Zijin Mining following the ratification of the Akyem East mining lease by Ghana’s Parliament, marking a key milestone in the company’s asset divestiture programme.
The lease ratification enables the final tranche of proceeds tied to the sale of the Akyem gold mine to Zijin, bringing total after-tax cash proceeds from the transaction to about $770-million.
With the Akyem sale complete, Newmont now expects to generate $3.1-billion in after-tax proceeds from divestitures in 2025, including $2.6-billion from asset sales and around $470-million from the sale of equity shares in Greatland Resources and Discovery Silver.
The proceeds will support Newmont’s ongoing capital allocation strategy, including debt reduction and shareholder returns.
Newmont is the world’s largest gold miner and a significant producer of copper, zinc, lead, and silver, with operations across Africa, Australia, Latin America, North America, and Papua New Guinea.
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