Zijin Mining Group Co. Ltd. has reached a deal to buy one of the biggest gold mines in the West African country of Ghana for $1 billion in cash, as the Chinese metals major ramps up investment abroad to meet its output targets.
The agreement, signed Wednesday, allows Zijin subsidiary Gold Source International Holdings Co. Ltd. to acquire a unit of U.S.-based Newmont Corp.’s entire stake in the Akyem Gold Mine project, the Chinese company said in an exchange filing.
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