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
EU pledges €1.16B to boost Africa’s energy transition Funds target electrification, grids, and renewable storage in 17 countries Disbursement...
Algeria to build two pipelines using local expertise only $60B energy plan aims to boost refining, cut imports Foreign firms still vital in...
Nigeria lost $3.3B oil to theft, vandalism in 2023-2024 NEITI to launch ownership register, track oil cargoes in real-time Reforms aim...
Verity now holds 100% of a 1,800 km² copper asset portfolio in Botswana. The company acquired BCL Investments’ 66% stake...

Most Read
01

• 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
02

• 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
03

Côte d’Ivoire traced 40% of cocoa for 2024/25 season Most cocoa remains untracked due to info...

With 40% of Its Cocoa Traceable, Côte d’Ivoire Faces a Race to Meet New E.U. Standards
04

• World Bank raises 2025 growth forecasts for Benin, Mali, Burkina, Côte d’Ivoire• Senegal and Niger...

World Bank Revises Up 2025 Forecasts for Four WAEMU Countries, Amid Falling Inflation
05

IFC will provide up to $40 million to Banque Islamique du Sénégal (BIS) under a Mourabaha agr...

IFC Lends $40 Million to Senegal’s Islamic Bank to Triple SME Loans
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.