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Zijin Mining Group Co ( (HK:2899) ) has shared an announcement.
Zijin Mining Group Co., Ltd. has announced the ratification of the Akyem Gold Mine’s mining leases by the Parliament of Ghana, following approval by the Ministry of Lands and Natural Resources. This ratification finalizes the company’s acquisition of the mine from Newmont Corporation, with a total transaction value of USD1 billion. The Akyem Gold Mine, a producing asset, has been operating smoothly and is expected to significantly enhance Zijin’s production volume and profitability. The company plans to capitalize on favorable mineralization conditions and rising gold prices by increasing resource utilization and extending the mine’s life, thereby strengthening its gold business segment.
The most recent analyst rating on (HK:2899) stock is a Buy with a HK$21.50 price target. To see the full list of analyst forecasts on Zijin Mining Group Co stock, see the HK:2899 Stock Forecast page.
More about Zijin Mining Group Co
Zijin Mining Group Co., Ltd. is a prominent player in the mining industry, primarily focusing on the extraction and production of gold and other minerals. The company has a significant market presence and is known for its strategic acquisitions and operations in various regions.
Average Trading Volume: 51,226,544
Technical Sentiment Signal: Buy
Current Market Cap: HK$554.4B
For an in-depth examination of 2899 stock, go to TipRanks’ Overview page.