Godblessed Blog of Sunday, 13 October 2024
Source: Vincent Ofori
Kwabena Donkor, a key figure in Ghana's energy sector, is advocating for the government to acquire the Newmont mine in Akyem. This development comes after Newmont Corporation announced its decision to sell the Akyem operation to Zijin Mining Group Co., Ltd. for up to $1 billion.
The sale is part of Newmont's strategy to focus on its Tier 1 assets, and the transaction is expected to close in the fourth quarter of 2024, subject to regulatory approvals. Donkor's push for government intervention highlights the significance of the mine to Ghana's economy and the potential benefits of local ownership.
It's essential to note that the Minerals Income Investment Fund (MIIF) was included in the process, potentially allowing for Ghanaian investment in the mine. This move could ensure that the country benefits from the mine's operations and resources.