Milestone Advances Project Toward Commercial Production in Q4 2025
Newmont Corporation (NYSE:NEM, TSX:NGT, ASX: NEM, PNGX: NEM)) ("Newmont" or "the Company") is pleased to announce that the first gold pour at its Ahafo North Project in Ghana took place on September 19, 2025, marking a critical milestone toward commercial production in the fourth quarter of 2025.
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Newmont Achieves First Gold Pour at Ahafo North Project in Ghana
This achievement follows the completion of key development phases, including ore stockpiling that began in late 2024, and the commissioning of critical infrastructure, such as processing circuits, mining support facilities, and a tailings storage facility. The project is currently ramping-up toward full operational readiness.
"The first gold pour at Ahafo North represents a major operational milestone that validates years of careful planning, engineering, and construction, and builds on the strength of our world-class portfolio," said Tom Palmer, Newmont's Chief Executive Officer. "As we progress toward commercial production, we remain focused on generating enduring value for our shareholders, workforce, host communities, and the government of Ghana."
Ahafo North is expected to deliver between 275,000 and 325,000 ounces of gold annually over a 13-year mine life. The project has created approximately 4,500 contracted jobs and once operational, will create approximately 560 permanent and 1,000 contracted roles – while contributing significantly to Ghana's economy through royalties, taxes, fees and local development programs.
Located at Afrisipakrom, about 30 kilometers from the Company's Ahafo South operations, Ahafo North is part of the broader Ahafo lease acquired from Normandy Mining in 2002. Considered the best unmined gold deposit in West Africa, Ahafo North represents Newmont's third mining investment in Ghana and, following the divestment of the Akyem mine in April 2025, will become the Company's second operational site in the country.
The successful pour affirms both the project's sound technical design and Newmont's disciplined project execution approach, positioning Ahafo North as a key asset in the company's long-term growth strategy.
About Newmont
Newmont is the world's leading gold company and a producer of copper, zinc, lead, and silver. The Company's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the Company has been publicly traded since 1925.
At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont's sustainability strategy and initiatives, go to www.newmont.com.
Cautionary Statement Regarding Forward-Looking Statements
This news release may contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Forward-looking statements in this news release include, without limitation, expectation regarding annual gold production, mine life, job creation and employment opportunities, future royalties, taxes, fees and local development programs, and other statements regarding future events or results. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. Uncertainties include, without limitation, those relating changing legal and regulatory restrictions on the mining industry in the jurisdiction and uncertainties in economic and geopolitical conditions, which could impact certain planning assumptions, including, but not limited to commodity and currency prices, costs and supply chain availabilities. For additional discussion of risks and other factors that might impact future looking statements and Newmont's business and operating results, see the Company's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission (SEC) on February 21, 2025, under the heading Risk Factors, and the Company's recent SEC filings.
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