--- title: "Zijin Gold plans to acquire Allied Gold for CAD 5.5 billion, accelerating its entry into the core gold mining area in West Africa" description: "ZIJIN GOLD INTL has signed a \"Arrangement Agreement\" with Allied Gold Corporation, intending to acquire all issued common shares of Allied Gold at a cash price of CAD 44 per share, with a total acquis" type: "news" locale: "en" url: "https://longbridge.com/en/news/273696989.md" published_at: "2026-01-26T12:03:16.000Z" --- # Zijin Gold plans to acquire Allied Gold for CAD 5.5 billion, accelerating its entry into the core gold mining area in West Africa > ZIJIN GOLD INTL has signed a "Arrangement Agreement" with Allied Gold Corporation, intending to acquire all issued common shares of Allied Gold at a cash price of CAD 44 per share, with a total acquisition consideration of approximately CAD 5.5 billion (approximately RMB 28 billion) Zijin Mining Group's subsidiary Zijin Gold International has agreed to acquire Canadian mining company Allied Gold for CAD 5.5 billion, further consolidating its position in the global gold production sector. Following the announcement, Allied Gold's U.S. stock pre-market rose nearly 9%. According to a previous announcement, Zijin Gold International signed an Arrangement Agreement with Allied Gold Corporation, proposing to acquire all issued common shares of Allied Gold at a cash price of CAD 44 per share, with a total acquisition consideration of approximately CAD 5.5 billion (about RMB 28 billion). The cash acquisition price proposed by Zijin Mining's Hong Kong-listed Zijin International Gold Company represents a premium of about 27% over Allied Gold's 30-day average price as of January 23. On the day the transaction was announced, gold prices first broke through USD 5,000 per ounce, continuing the previous rapid upward trend. Allied Gold operates gold mining assets in Africa, with operational gold mines in Mali and Côte d'Ivoire, and is developing new projects in Ethiopia. This acquisition will add three gold mines to Zijin Mining, which are expected to produce a total of 400,000 ounces of gold last year. ## Expanding the African Gold Footprint This acquisition will add three gold mines to Zijin Mining's asset portfolio, with an expected maximum production of 400,000 ounces of gold last year. Among them, the Sadiola gold mine in Mali accounts for about half of that production. Zijin Mining already has multiple projects in Africa, including copper and lithium assets in the Democratic Republic of the Congo and a gold mine in Ghana. The acquisition of Allied Gold will further expand its gold business layout in Africa. In recent years, Zijin Mining has rapidly risen to become one of the largest gold and copper producers in the world. 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