Beijing/Toronto, 26 January 2026 – Zijin Gold International Company Limited has struck a C$5.5 billion (about US$4.02 billion) agreement to acquire Canada’s Allied Gold Corporation, marking one of the most significant cross-border deals in the global gold sector this year and underscoring China’s growing reach in strategic natural resources.
Under the terms of the all-cash offer, Zijin will pay C$44 per share for Allied Gold, representing a premium of about 5.4 per cent over Allied’s most recent closing price. The friendly deal, which both companies have agreed in principle, is expected to close by late April 2026, after which Allied Gold’s shares are likely to be delisted from the Toronto Stock Exchange and the New York Stock Exchange.
Allied Gold operates a diversified portfolio of gold assets across Africa, including producing and development-stage mines in Mali, Côte d’Ivoire and Ethiopia, giving Zijin an expanded footprint in high-potential gold regions with multi-decade output prospects.
Allied Gold’s chief executive, Peter Marrone, highlighted that the transaction offers compelling immediate value for shareholders, with the offer pricing Allied’s stock at an all-time high and crystallising strong returns compared with recent market levels. The company’s U.S.-listed shares responded positively in pre-market trading following the announcement.
The acquisition comes amid a backdrop of elevated gold prices and strong investor demand for stable commodities, which has encouraged major producers to accelerate consolidation and seek established assets rather than greenfield developments. Analysts say gold’s role as a hedge against economic uncertainty, driven by inflation, global policy tensions and market volatility, has kept miners’ margins strong, incentivising strategic mergers and acquisitions.
For Zijin, the deal aligns with its global expansion strategy and strengthens its position as one of the world’s largest diversified miners. The company already has a broad global presence and has made several recent international acquisitions, moves that aim to secure upstream resources and stable cash flows amid a competitive global mining landscape.
