China's Zijin Mining Group will buy the Akyem Gold Mine Project in Ghana from U.S.-based Newmont Corp for $1 billion, the companies said on Wednesday. The sale is a part of Newmont's ongoing programme to divest non-core assets as the company makes a strategic shift to focus on its tier one assets,

Zijin Mining Group Co. has bought the Akyem gold project in Ghana for as much as $1 billion in cash as the state-owned firm looks to add resources to meet its aggressive output targets.

Newmont Corporation has announced that it will sell its Akyem operations to Zijin Mining Group Co., Ltd. under a definitive agreement for cash consideration of up to $1 billion. The sale is part of Newmont's ongoing program to divest non-core assets as the Company makes a strategic shift to focus on its Tier 1 assets.

Newmont has agreed to sell a gold mine in Ghana to a Chinese miner for $1.0 billion, the latest divestiture by the world’s biggest gold miner as it turns its focus to copper.

Ghanaian unions have called off a strike after the government promised to take measures to clean up Africa’s biggest gold producer’s small-scale mining sector.

Ghana has a gold problem: illegal mines, known as 'galamsey', where men work without proper protective equipment. It threatens their lives – and the environment.