Zijin Gold to Acquire Allied Gold for $4 Billion

• Acquisition valued at approximately $4.02 billion (C$5.5 billion), with Zijin paying C$44 per share in an all-cash transaction
• Deal comes amid elevated gold prices that are fueling industry consolidation as major producers seek long-life assets through acquisitions rather than greenfield development
• Transaction represents an all-time high valuation for Allied Gold and is expected to close by late April 2026

Summary

Key Transaction Details:

Zijin Mining's gold division has agreed to acquire Canadian miner Allied Gold for C$5.5 billion ($4.02 billion) in an all-cash deal. Zijin will pay C$44 per share, representing an all-time high for Allied Gold's valuation. The transaction is expected to close by late April 2026.

Market Context:

The acquisition reflects accelerated consolidation in the gold mining sector, driven by sharply rising bullion prices that have improved miners' margins and cash flows. Large producers are increasingly pursuing acquisitions of long-life assets rather than developing new greenfield projects to boost output.

Strategic Implications:

This deal marks a significant step in Zijin Mining's global expansion strategy, with the Chinese miner leveraging favorable gold market conditions to strengthen its international portfolio. The acquisition provides Allied Gold shareholders with a premium exit at peak company valuation.

Companies Involved:

• Zijin Mining (Buyer): Chinese mining company expanding globally
• Allied Gold (Target): Canadian gold miner being acquired

Sector Impact:

The transaction underscores the gold sector's M&A momentum, as strong precious metals prices create attractive conditions for consolidation. Major producers are capitalizing on elevated asset valuations and robust fundamentals to pursue strategic acquisitions rather than riskier organic growth initiatives.

The deal represents one of the larger cross-border mining acquisitions in recent months, highlighting continued Chinese interest in securing strategic mineral assets globally amid sustained gold price strength.