Precious Metals on the African Continent: Zijin Gold Enters Ghana, Announces $635 Million Investment After One Year
¬ Zijin Gold has invested over $635 million in Ghana since 2025
¬ Acquired Akim Gold Mine, producing 5.1 tons of gold
¬ Ghana increases royalty fees; Zijin Gold aims for 2026 production growth
Zijin Gold stated that since entering Ghana’s gold market in 2025, it has invested more than 7 billion Ghanaian cedis (approximately $63.55 million) into Ghana’s economy. The Chinese mining group said on Monday, April 13, that this figure includes payments made to the Ghanaian government as well as investments benefiting local communities.
Zijin Gold entered the Ghanaian market in April 2025, acquiring the Akim Gold Mine from Newmont Corporation for approximately $1 billion. Twelve months later, the mine produced 5.1 tons of gold. Zijin Gold detailed its economic contributions through tax payments, procurement from local suppliers, wage disbursements, and investments in education, healthcare, and agriculture.
These figures highlight the pivotal role gold producers play in key sectors of Ghana’s economy. Gold is Ghana’s largest export commodity, surpassing cocoa and oil. In addition to Zijin Gold, Ghana hosts other major gold producers, including Anglo American’s Ashanti operations, Perseus Mining, and South Africa’s Gold Fields.
Zijin Gold’s investment plans for 2026 are under close watch. The company aims to increase gold output to 8.5 tons, while the Ghanaian government seeks a larger share of mining revenues through fiscal reforms. The government has introduced a new mineral resource taxation framework, which could raise the gold royalty rate from the previous cap of 5% to as high as 12%. Zijin Gold is also preparing to expand its market share by acquiring China’s Chifeng Jilong Gold Company and expanding its Wassa Gold Mine.
Source: ecofinagency
Original article: toutiao.com/article/1862462203196426/
Disclaimer: This article represents the personal views of the author