Zijin Gold International Company has signed a definitive agreement to acquire all issued and outstanding shares in Canadian company Allied Gold for an equity value of nearly C$5.5bn ($4.01bn), in an all-cash deal.
The Allied Gold acquisition offer is priced at C$44 per share.
The company’s primary assets include the Sadiola Gold Mine in Mali and the Côte d’Ivoire Complex, including the in-production Agbaou and Bonikro gold mines, and the Kurmuk gold mine in Ethiopia, which is scheduled to commence production in the second half of 2026.
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The agreement includes no financing conditions. The cash consideration is expected to be funded from Zijin Gold’s existing cash balances as well as available liquidity.
Zijin Gold chairman Hongfu Lin said: “Allied Gold has successfully assembled and advanced a portfolio of large-scale, long-life gold assets with compelling expansion potential.
“As the prospective new owners, we look forward to working with stakeholders in Ethiopia, Mali and Cote d’Ivoire to further advance these operations. Sadiola and Kurmuk are generational assets which we expect to provide multi-decade production, complemented by the meaningful production from the CDI Complex.”
Closing of the transaction is expected by late April 2026, subject to the satisfaction or waiver of all necessary conditions and receipt of required clearances.
Once the transaction concludes, Allied Gold shares are expected to be delisted from the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE). Allied Gold would also cease to be a reporting issuer under Canadian as well as US securities laws.
Completion remains subject to a number of terms and conditions. These include approval of Allied Gold shareholders, approval under the Investment Canada Act (Canada), customary court approval in the country and no material adverse changes with regard to Allied Gold.
In September 2025, Zijin Gold raised HK$24.98bn through an initial public offering in Hong Kong.
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