This establishes the company's second operational site in the country, expanding Newmont’s existing footprint with four open pit mines and a stand-alone mill.
"This represents a significant milestone for Newmont and our partners in Ghana," says Tom Palmer, Newmont's CEO. "This new world-class operation demonstrates our commitment to operational excellence while creating enduring value for our investors, communities, host governments and all our stakeholders in this premier mining jurisdiction. It's rare in our industry to see a new mine come to life within a single career. I'm incredibly proud of what our teams have achieved and honoured to have been part of this project from the very beginning."
What are analysts saying?
Josh Wolfson | Analyst, RBC Capital Markets: “Newmont … is executing on a clearly articulated plan … [the stock is] a tactical buying opportunity.”Zacks Investment Research: “This major milestone reflects years of planning, engineering and construction. … Ahafo North is expected to produce between 275,000 and 325,000 oz of gold annually over an estimated 13-year LoM.
Tracey Ryniec | Stock strategist, Zacks Investment Research: “Expectations were high. Free cash flow was slightly below Q2 … Now Newmont is warning Q4 cash flow will be weaker, which is disappointing when gold is above $4,000 an ounce. The street is asking, “if you’re not crushing it now, when will you?”
“Witnessing Ahafo North's journey from construction to commercial production over the past two years as COO has been one of the most rewarding experiences of my career. When I joined Newmont in 2023, Ahafo North was deep in construction phase – an exciting project taking shape through the dedication of thousands of team members across the world. Today, as we celebrate its official opening, I'm struck by what this achievement represents for our future,” says Newmont Corporation President & COO, Natascha Viljoen.
“As the 12th operation in our world-class portfolio, Ahafo North embodies everything we strive for: operational excellence, community partnership, and sustainable value creation. Adding 275,000-325,000 oz annually over an initial 13-year mine life, it strengthens our position as a resilient, multi-decade gold producer. And by targeting gender parity from the outset, Ahafo North will set a standard for living our Newmont values across the business.”
Ahafo North is expected to produce approximately 50,000 oz of gold in 2025, with production ramping up through 2026 to achieve full operational capacity. Over the next five years, the operation is positioned to deliver between 275,000 and 325,000 ounces of gold annually over a 13-year mine life, making it a cornerstone asset in Newmont's global portfolio.
Ahafo North represents Newmont's third mining investment in Ghana and, following the divestment of the Akyem mine in April 2025, establishes the company's second operational site in the country, expanding Newmont’s existing footprint with four open pit mines and a stand-alone mill.
RELATED: Newmont’s Natascha Viljoen breaks the gold ceiling
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