On August 1, 2025, Zijin Mining, a leading global metals miner, announced that Ghana’s Parliament ratified the mining leases for Akyem East and Akyem West at its Akyem Gold Mine. The leases, initially approved by Ghana’s Ministry of Lands and Natural Resources in September 2024, secure Zijin’s operational rights, with Akyem East valid until January 18, 2037, and Akyem West until January 18, 2030. All of the mine’s mineral resources, reserves, and production facilities are located within the Akyem East lease.

The ratification marks the conclusion of Zijin Mining’s payment obligations for the 100% acquisition of Akyem from Newmont. On October 9, 2024, the company announced its offer to acquire the operation for a consideration of US$1billion. The payments were structured in two tranches: an initial US900 million payable at acquisition close and a final US$100 million contingent upon parliamentary ratification of the lease for Akyem East. Following adjustments for cash and working capital, Zijin Mining paid US$888 million upon the deal’s completion on April 16, 2025, and transferred the remaining US$100 million to Newmont on July 31, 2025.

Strong Potential

Akyem ranks among Ghana’s largest gold mines, with favorable metallogenic conditions and substantial potential for resource expansion. Its gold resources (exclusive of reserves) total 54.4 tonnes (average grade: 3.36 g/t), while its reserves stand at 34.6 tonnes (average grade: 1.35 g/t). An additional 83 tonnes of gold are classified as resources for potential underground mining. The operation employs conventional carbon-in-leach (CIL) processing, with an annual plant throughput of 8.5 million tonnes. Annual gold production from 2021 to 2024 reached 11.9 tonnes, 13.1 tonnes, 9.2 tonnes, and 6.4 tonnes, respectively.

Since Zijin’s acquisition in April 2025, the mine has maintained stable operations, achieving all targeted production metrics and contributing immediately to the company’s output and profitability. Current initiatives are focused on enhancing mining efficiency and ensuring high-grade ore supply to accelerate production growth and maximize returns. Amidst a surge in gold prices, Zijin Miming is conducting further exploration, technical and economic re-evaluation, and process innovation to extend the life of the mine, grow its recoverable resources and boost production. 

Translator: Li Yuanxing   Reviser: Jian  Editor-in-Chief: Fa Yuan