Ahafo North Delivers First Gold Pour, Boosts Newmont's Growth in Ghana

Newmont Corporation NEM has announced the first gold pour at its Ahafo North Project in Ghana on Sept. 19, 2025. This is a step toward commercial production planned in the fourth quarter of 2025.

The achievement follows completion of crucial developmental phases, including ore stockpiling, commissioning of processing circuits, mining support infrastructure, and a tailings storage facility to make it ready for full-fledged operations.

This major milestone reflects years of planning, engineering and construction. The execution was also facilitated by Newmont’s strong world-class portfolio. Ahafo North is expected to produce between 275,000 and 325,000 ounces of gold annually over an estimated 13-year mine life. The project has provided about 4,500 contracted jobs and is further expected to create 560 permanent and 1,000 contracted roles, contributing to Ghana’s economy through royalties, taxes, fees and development initiatives.

Ahafo North, situated at Afrisipakrom, around 30 kilometers from Newmont’s Ahafo South site, is built on leases acquired from Normandy Mining in 2002. Ahafo North represents Newmont’s third investment in Ghana and second operational site in the country following the company’s divestment of the Akyem mine in April 2025. Being considered the best unmined gold deposit in the region, it reaffirms long-term growth and value creation for Newmont.

NEM’s shares have gained 56.7% over the past year against the industry’s 77.6% growth.

NEM’s Zacks Rank & Other Key Picks

NEM currently sports a Zacks Rank #1 (Strong Buy).

Some other top-ranked stocks in the Basic Materials space are Methanex Corporation MEOH, Carpenter Technology Corporation CRS and The Mosaic Company MOS. MEOH and CRS sport a Zacks Rank #1 each, while MOS carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for MEOH’s current-year earnings is pegged at $3.72 per share. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 83.18%. MEOH’s shares have gone up 1.4% in the past year.

The Zacks Consensus Estimate for CRS’ current fiscal-year earnings is pegged at $9.51 per share, indicating a 27.14% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 8.38%. CRS’ shares have surged 54.5% in the past year.

The Zacks Consensus Estimate for MOS’ 2025 earnings is pegged at $3.17 per share, indicating a rise of 60.10% from year-ago levels. The company’s earnings beat the consensus estimate in one of the trailing four quarters while missing it in the rest. MOS’ shares have gained 36% in the past year.

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This article originally published on Zacks Investment Research (zacks.com).

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