China's Zijin Mining to buy Newmont's gold project in Ghana for $1b

China's Zijin Mining to buy Newmont's gold project in Ghana for $1b

The company logo of Zijin Mining Group Co Ltd, China's biggest listed gold producer, is displayed at a news conference following its annual results in Hong Kong, China March 29, 2016. REUTERS/Bobby Yip/ File Photo

China’s Zijin Mining Group will buy the Akyem Gold Mine Project in Ghana from U.S.-based Newmont Corp for $1 billion, the companies said on Wednesday.