Zijin Gold Acquires Allied Gold in $5.5 Billion Cash Deal
Allied Gold Corp. has agreed to a significant acquisition by Zijin Gold International Co. Ltd. The deal, valued at $5.5 billion, is set to transform the landscape of gold mining in Canada.
Zijin Gold Acquires Allied Gold in a $5.5 Billion Cash Deal
Based in Hong Kong, Zijin Gold will pay $44 per share in cash for Allied Gold. This acquisition reflects confidence in Allied Gold’s portfolio, which includes three producing assets and various development projects located in Côte d’Ivoire, Mali, and Ethiopia.
Market Response and Leadership Comments
Following the announcement, Allied Gold’s shares experienced a decline, closing down 55 cents at $41.75 on the Toronto Stock Exchange. Peter Marrone, chairman and CEO of Allied Gold, characterized the offer as highly attractive, marking an all-time high for the company’s stock price.
Approval Process
The transaction is expected to finalize by late April 2026. However, it is contingent upon approval from both Allied Gold shareholders and the Canadian government under the Investment Canada Act.
Key Highlights of the Acquisition
- Acquisition Value: $5.5 billion
- Share Purchase Price: $44 per share
- Assets Include: Three producing mines and development projects in Côte d’Ivoire, Mali, and Ethiopia
- Share Price Before Acquisition: $41.75
- Expected Closure: Late April 2026
This strategic acquisition by Zijin Gold marks a significant step in expanding its presence in the global gold market while enhancing Allied Gold’s opportunity for growth.
