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Newmont’s Ahafo North mine reaches commercial production in Ghana
Yahoo Finance· 2025-10-27 10:43
Core Insights - Newmont's Ahafo North project in Afrisipakrom, Ghana has officially reached commercial production, marking a significant milestone for the company and its partners in the region [1][2] - The mine is projected to produce approximately 50,000 ounces of gold in 2025, with production expected to increase as operations reach full capacity in 2026 [2] - Over its 13-year lifespan, Ahafo North is anticipated to deliver between 275,000 ounces and 325,000 ounces of gold annually, enhancing Newmont's global portfolio [3] Project Development - The Ahafo North project involved extensive infrastructure construction, commissioning of processing facilities, and workforce development initiatives [1] - The project has created around 4,500 contracted jobs during its construction phase and established approximately 560 permanent and 1,000 contracted positions for ongoing operations [4] Strategic Importance - Ahafo North is Newmont's third mining venture in Ghana and serves as the company's second operational site in the country following the divestment of the Akyem mine in April 2025 [3] - The new site includes four open-pit mines and a stand-alone mill, which expands Newmont's operational footprint in the region [3][4] Economic Impact - The Ahafo North project has significantly contributed to the local economy, benefiting from operational synergies with the existing Ahafo South operation located about 50 km away [4] - The commitment to operational excellence aims to create enduring value for investors, communities, host governments, and stakeholders [2]