Newmont’s Ahafo North enters commercial production

[Ben Graham]

Newmont’s (NYSE, ASX: NEM) Ahafo North project in Ghana is now officially in commercial production, the company announced last Friday, marking the successful completion of one of West Africa’s most significant mining developments in recent years.

The milestone, the Denver, Colorado-based gold miner says, represents a “culmination of a comprehensive development program” that included extensive infrastructure construction, processing facility commissioning and workforce development initiatives.

Located in 290 km northwest of Ghana’s capital Accra, the Ahafo North project forms part of the broader Ahafo lease that also comprises Newmont’s existing Ahafo South operations, where it has been mining since 2006 and currently is the largest gold producer in the African nation.

Like Ahafo South, the Ahafo North project has been earmarked by Newmont as a cornerstone asset in its global portfolio. On its website, the company calls it “the best unmined gold deposit in West Africa,” with approximately 4.6 million oz. in reserves.

In 2021, Newmont began advancing the project, comprising a total of four open pit mines and a standalone mill located 30 km from Ahafo South, and completed most of the key developments earlier this year. First gold pour was achieved on Sept. 19.

Second mine in Ghana

Tom Palmer, Newmont’s chief executive officer, said the start of commercial production at Ahafo North represents a “significant milestone” for the company and its Ghanaian partners.

“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,” he stated in a press release.

The Ahafo North project was 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.

According to a technical report, Ahafo North is expected to yield between 275,000 and 325,000 oz. of gold annually over an initial 13-year life. For the remainder of 2025, it is expected to produce approximately 50,000 oz.

When combined with Ahafo South, the Ghanaian operation is expected to produce about 750,000 oz. of gold annually, Newmont has said.