Newmont has entered into a definitive agreement to sell its Akyem gold mine in Ghana to Zijin Mining Group for up to $US1 billion.

Under the terms of the agreement, Newmont is expected to receive cash consideration of $900 million upon closing. A further $100 million is expected to be received upon the satisfaction of certain conditions. 1

Newmont Corporation NEM recently announced that it has reached a definitive agreement to sell its Akyem operation in Ghana to Zijin Mining Group Co., Ltd. for up to $1 billion in cash. The sale is part of Newmont's continuous commitment to divest non-core businesses as it shifts its strategic focus to Tier 1 assets.