In business this week, Government of Ghana has announced that the country is back on the international financial markets after successfully completing the transaction of restructuring $13 billion in Eurobonds on October 8, 2024.<\/p>\n Back in June this year, the Ad Hoc Group of International Bondholders and government reached an agreement in principle for restructuring the outstanding Eurobonds. <\/p>\n The agreement was approved by the International Monetary Fund as compatible with the program parameters and met the comparability of treatment requirements of the Official Creditor Committee for Ghana.<\/p>\n On financial matters, China’s Zijin Mining Group (601899.SS), will buy the Akyem Gold Mine Project in Ghana from U.S. based Newmont Corp (NEM.N), for $1 billion, the companies said on Wednesday.<\/p>\n The sale is a part of Newmont’s ongoing programme to divest non-core assets as the company makes a strategic shift to focus on its tier one assets, the U.S. gold producer said.<\/p>\n Newmont is expected to receive cash consideration of $900 million upon the deal’s closure, with a further $100 million upon satisfaction of certain conditions.<\/p>\n The deal will see Zijin’s unit Gold Source International acquiring a subsidiary of Newmont, which in turn owns the Akyem project.<\/p>\n Also on import and export, the Chief Executive Officer of Electrochem Ghana Limited, Abdul Razak Adam, has called on the government to ban the importation of salt.<\/p>\n According to him, Ghana has a large quantity of this produce, and importing this commodity will cause more harm than good to the local industry.<\/p>\n Citing Electrochem as an example, Mr. Adam said the salt mining firm could produce about two million metric tonnes of salt per year.<\/p>\n This is more than the annual salt consumption of the country, which is pegged at approximately 750,000 metric tonnes.<\/p>\n Ernestina Serwaa Asante hosted this week’s BizHeadlines.<\/p>\n![\"Host](\"https:\/\/cdn.ghanaweb.com\/imagelib\/pics\/762\/76238853.295.jpg\" "\\"Host")
play video<\/span>Host of BizHeadlines, Ernestina Serwaa Asante<\/span><\/span><\/p>\n<\/div>\n