Newmont achieves first gold pour at Ghana’s Ahafo North project

Published 22/09/2025, 21:38
Newmont achieves first gold pour at Ghana’s Ahafo North project

DENVER - Newmont Corporation (NYSE:NEM, TSX: NGT), currently trading near its 52-week high with a market capitalization of $91.7 billion, achieved its first gold pour at the Ahafo North Project in Ghana on September 19, marking a significant step toward commercial production scheduled for the fourth quarter of 2025. The company has demonstrated strong financial health, earning a perfect Piotroski Score of 9 according to InvestingPro analysis, which offers comprehensive insights through its Pro Research Report covering 1,400+ top stocks.

The milestone follows the completion of key development phases that began with ore stockpiling in late 2024 and continued with the commissioning of processing circuits, mining support facilities, and a tailings storage facility, according to a company press release.

Ahafo North is expected to produce between 275,000 and 325,000 ounces of gold annually over a 13-year mine life. The project has generated approximately 4,500 contracted jobs during development and is projected to create about 560 permanent and 1,000 contracted positions once operational.

Located approximately 30 kilometers from Newmont’s Ahafo South operations at Afrisipakrom, the project represents the company’s third mining investment in Ghana. Following the divestment of the Akyem mine in April 2025, it will become Newmont’s second operational site in the country.

The company acquired the broader Ahafo lease from Normandy Mining in 2002. Newmont describes the site as "the best unmined gold deposit in West Africa."

"The first gold pour at Ahafo North represents a major operational milestone that validates years of careful planning, engineering, and construction," said Tom Palmer, Newmont’s Chief Executive Officer, in the statement.

The project is currently ramping up toward full operational readiness as it progresses toward its commercial production target. With revenue growth of 38.4% in the last twelve months and an EBITDA of $10.94 billion, Newmont continues to demonstrate robust financial performance. For detailed financial analysis and 14 additional exclusive insights, investors can access the complete company profile on InvestingPro.

In other recent news, Newmont Corporation has been active with several notable transactions and analyst reviews. The company completed the sale of its entire stake in Orla Mining Ltd. for $439 million, marking a significant divestment. Additionally, Newmont has agreed to sell its Coffee Project in Yukon, Canada, to Fuerte Metals Corporation for up to $150 million, a deal expected to close in the fourth quarter of 2025. In terms of analyst activity, RBC Capital upgraded Newmont’s stock rating from Sector Perform to Outperform, citing an operational turnaround and raising the price target to $95.00. Conversely, Macquarie downgraded Newmont from Outperform to Neutral, setting a price target of $72.00, following a 35% rise in the company’s stock price over the last three months. These developments reflect ongoing strategic shifts and market reactions surrounding Newmont.

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