Mining

Ghana: U.S. gold miner Perseus Mining considers buying Newmont’s Akyem mine

Ghana: U.S. gold miner Perseus Mining considers buying Newmont’s Akyem mine
Tuesday, 27 February 2024 09:39

Africa’s premier gold producer, Ghana, hosts major mining firms such as Perseus Mining and Newmont, the largest gold producers globally. Perseus, managing the Edikan gold mine in Ghana, may soon double its production by acquiring Akyem, one of Newmont's Ghanaian mines.

Newmont Corporation, the world's largest gold producer, is divesting one of its Ghanaian assets, the Akyem mine, alongside other gold operations in Australia, Canada, and the United States. Perseus Mining is contemplating the acquisition of the Ghanaian mine from the U.S.-based company, according to Jeff Quartermaine, CEO of Perseus Mining.

"We will certainly explore the opportunity," Quartermaine remarked during a conference call. As per Mining Weekly, which cited the executive, Perseus Mining possesses significant familiarity with the Akyem project, given its existing ownership of the Edikan mine in Ghana.

Through this deal, Perseus Mining could double its gold output.

According to Newmont’s projections, Akyem is anticipated to yield 170,000 ounces in 2024. In the previous year, the mine produced 295,000 ounces, compared to Edikan's 202,599 ounces.

Newmont's presence in Ghana will continue even if the sale of Akyem materializes. The American firm will retain its Ahafo mine, which yielded 581,000 ounces in 2023.

Meanwhile, Perseus maintains operations in Côte d’Ivoire, where it operates the Yaouré and Sissingué gold mines.

Emiliano Tossou

On the same topic
An audit by DRC’s Court of Accounts found a $16.8 billion shortfall in mining revenues between 2018 and 2023 due to under-reporting. Prosecutor...
Anglo American is divesting from platinum and diamonds, including an 85% stake in De Beers, to focus on copper, iron ore, and crop nutrients. CEO...
Alphamin now targets 2025 tin production at 18,000–18,500 tons, up from a revised 17,500 tons in April. The company reported a 26% quarterly output...
Sudan, South Sudan agree to secure vital oil infrastructure Joint mechanism to protect pipelines; RSF role not addressed Conflict-hit oil...

Most Read
01

Senegal’s attempt to diversify its fuel supply by turning to Nigerian crude is bumping up against ha...

Senegal Turns on Nigerian Crude to Diversify its Fuel Supply — But Challenges Loom Ahead
02

• UAC of Nigeria acquired CHI Limited, known for Chivita juices and Hollandia dairy, from Coca-Cola ...

UAC of Nigeria Takes Control of CHI Limited, Former Coca-Cola Subsidiary
03

• AfDB chief Sidi Ould Tah met BOAD president Serge Ekué in Abidjan on Aug. 30.• Talks focused on jo...

AfDB, BOAD join forces to expand financing for West Africa projects
04

Financial professionals gathered in Dakar on September 25 for the Structured Finance Africa Forum (S...

Rating Agency Chief: West Africa Securitization Could Hit 20 Deals a Year
05

• Nestlé, NGOs urge against delay, propose grace period instead• EU cites technical hurdles, trading...

EU Weighs Delay to 2025 Anti-Deforestation Law Amid Industry Calls to Stay on Track
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.