Summary by Futu AI
Zijin Mining Group announced on October 9, 2024, that its subsidiary JinYuan International will acquire 100% equity of Newmont Corporation's subsidiary Newmont Golden Ridge Ltd for 1 billion USD, which owns 100% stake in the Akyem gold mine project in Ghana. The transaction has been approved by the board of directors of Zijin Mining Group and does not constitute a related party transaction or a significant asset restructuring. The completion of the transaction is subject to a series of conditions and uncertainties. Akyem gold mine is one of the major gold mines in Ghana, with good resource development potential and infrastructure, and is expected to have a significant impact on the gold production and economic benefits of Zijin Mining Group. The company stated that this acquisition aligns with its development strategy, helps increase gold production, and contributes to the local socio-economic development in Ghana. Investors should take note of relevant investment risks.