Zijin Gold International, a subsidiary of China’s Zijin Mining Group, has entered into an arrangement agreement to acquire 100 per cent of Allied Gold Corporation in a transaction valued at approximately CAD 5.5 billion, equivalent to about US$4.0 billion. The acquisition will give Zijin control of a portfolio of large-scale gold assets across Africa, including …
Zijin targets growth in Mali, Côte d’Ivoire and Ethiopia with $4bn Allied Gold deal
Zijin Gold International, a subsidiary of China’s Zijin Mining Group, has entered into an arrangement agreement to acquire 100 per cent of Allied Gold Corporation in a transaction valued at approximately CAD 5.5 billion, equivalent to about US$4.0 billion.
The acquisition will give Zijin control of a portfolio of large-scale gold assets across Africa, including the Sadiola Gold Mine in Mali, the Côte d’Ivoire Complex, and the Kurmuk Gold Mine in Ethiopia. These assets are expected to significantly enhance Zijin’s production base and long-term growth outlook.
Following the transaction, Allied Gold’s annual gold production is projected to increase to 25 tonnes by 2029, strengthening Zijin’s output profile. The deal will also add an estimated 533 tonnes of gold resources to Zijin’s global resource base.
Zijin Gold International said the acquisition aligns with its strategy to expand its footprint in Africa and generate operational synergies with its existing projects in Ghana and Eritrea.
The company expects the integration of Allied Gold’s assets to improve regional coordination, operational efficiency, and long-term value creation.
The transaction represents a major step in Zijin Mining’s ambition to consolidate its position as a leading global gold producer, while deepening its presence in key mining jurisdictions across Africa.
