Precious Metals on the African Continent: Zijin Mining Plans 8.5 Tons of Gold Production from Ghana's Akyem Mine by 2026

¬ Zijin Mining plans to produce 8.5 tons of gold annually from Ghana's Akyem Mine by 2026

¬ Output will increase following the $1 billion acquisition of Newmont Mining in 2025

¬ Expansion and upgraded processing capacity will support revenue growth as gold prices rise

Zijin Gold International aims to produce 8.5 tons of gold annually from Ghana’s Akyem Mine by 2026, up from 5.1 tons last year. The Chinese company is intensifying operations at the mine, which it acquired about a year ago from U.S.-based Newmont Mining.

The transaction was finalized in April 2025. Zijin Gold spent approximately $1 billion to acquire the Akyem Mine, expanding its presence in Africa and complementing its existing gold assets in Colombia, Suriname, and Australia. This marks the first full fiscal year since Zijin Gold took over the mine, with ongoing optimization efforts aimed at boosting output.

Zijin Gold stated that multiple initiatives have been launched to modernize existing infrastructure and expand mining capacity. The plan includes increasing the ore processing capacity of the concentrator plant from the current 8 million tons per year to over 13 million tons annually. While the company did not disclose the project’s cost, it expects this expansion to drive production growth this year.

This production boost comes amid rising gold prices. The Akyem Mine generated $60.91 million in revenue during the previous fiscal year. Ghana will also benefit, receiving a share of the mine’s income through royalties and taxes, including corporate income tax.

In addition, Zijin Mining is planning to further expand its footprint in Africa through the acquisition of Canadian mining company Allied Gold. Allied Gold operates three gold mines in Côte d’Ivoire and Mali and plans to bring a fourth mine online in Ethiopia this year.

Source: ecofinagency

Original: toutiao.com/article/1860596174063881/

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