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DENVER - Newmont Corporation (NYSE:NEM, ASX: NEM, PNGX: NEM), the $91 billion market cap mining giant, announced Friday that its Ahafo North project in Afrisipakrom, Ghana has reached commercial production, completing one of West Africa’s major recent mining developments. According to InvestingPro data, Newmont maintains a "GREAT" financial health score, supported by strong revenue growth of 38% in the last twelve months.
The milestone follows the project’s first gold pour on September 19, 2025. Ahafo North is expected to produce approximately 50,000 ounces of gold in 2025, with production increasing through 2026 to reach full operational capacity.
Over the next five years, the operation is projected to deliver between 275,000 and 325,000 ounces of gold annually over its 13-year mine life, according to the company’s press release statement.
"Achieving commercial production at Ahafo North represents a significant milestone for Newmont and our partners in Ghana," said Tom Palmer, Newmont’s Chief Executive Officer.
Located approximately 50 kilometers from Newmont’s existing Ahafo South operation, this development represents Newmont’s third mining investment in Ghana. Following the divestment of the Akyem mine in April 2025, it establishes the company’s second operational site in the country.
The project created approximately 4,500 contracted jobs during construction and has established around 560 permanent and 1,000 contracted positions for ongoing operations.
Ahafo North expands Newmont’s existing footprint in Ghana with four open pit mines and a stand-alone mill, leveraging operational synergies with the company’s Ahafo South operation.
In other recent news, Newmont Corporation reported stronger-than-expected earnings for the third quarter of 2025. The company’s earnings per share reached $1.71, surpassing the forecast of $1.44, while revenue totaled $5.52 billion, exceeding the projected $5.19 billion. Additionally, Newmont is reportedly exploring a potential deal to acquire Barrick Gold Corporation’s Nevada gold mining assets. The transaction would allow Newmont to gain full ownership of the Nevada gold mines, where it currently holds a minority stake in a joint venture with Barrick. These developments highlight Newmont’s strategic moves and financial performance in the current period.
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