China’s Zijin Gold To Acquire Canada’s Allied Gold For $4B

China’s leading gold miner Zijin Gold will acquire Canada’s Allied Gold (TSO:AAUC) for $4 billion in an all-cash deal, sealing a recent trade policy rapprochement between Beijing and Ottawa.

Peter Marrone, Chairman and Chief Executive Officer of Allied Gold, stated: “The announced Transaction provides a highly attractive all-cash offer for Allied Gold at what represents an all-time high for the Company’s share price, crystallizing significant and certain value for its shareholders. The Transaction is also a testament to the exceptional efforts of the entire Allied Gold team to identify, finance, optimize, grow, and develop what we have always known is a world-class portfolio of gold assets across Africa, and it is also an endorsement of these high-quality assets and the mining-friendly jurisdictions where they are located.

Zijin Gold is among the world’s largest mining companies with a proven track record of successful international transactions, project development and operational excellence. Of critical importance, Zijin Gold shares Allied Gold’s sustainability values, prioritizing employee safety and well-being, environmental performance, and fostering meaningful engagement and collaboration with external stakeholders. All of this, together with our ongoing strategy for resource growth, development, and operational excellence, is expected to continue advancing while creating significant value for this high-quality portfolio of assets for all stakeholders.