Allied Gold Accepts Buyout by Zijin for $4.1B, Cashing on Close to 30% Premium
On 26 January 2026, Allied Gold (TSX: AAUX, NYSE: AAUC) announced that it has agreed to the acquisition by Zijing Gold (HKEX: 2259) for a price estimated at USD 4.1 billion (C$5.5B). Zijin has offered to purchase all of Allied Gold’s stocks for cash at CAD 44 per share, representing a 27% premium over Allied Gold 30-day volume-weighted average price (VWAP) on the Toronto Stock Exchange.
“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.”
Allied Gold Chair & CEO Peter Marrone
Zijin Gold is a subsidiary of Zijin Mining Group (SHSE: 601899, HKEX: 2899), which is one of the largest mining companies in the world, with a market capitalization of over USD 160 billion. Zijin Gold launched its initial public offering (IPO) on the Hong Kong Stock Exchange in September 2025. The IPO turned out to be the world’s second-largest IPO of the year and managed to raise about USD 3.2 billion on that day.
“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. The acquisition is consistent with our strategy of acquiring high-quality gold assets and expands our presence in Africa.”
Zijing Gold Chair LIN Hongfu
Allied Gold is an international mining company that owns and operates gold mines mainly in Africa, notably in Mali, Côte d’Ivoire, and Ethiopia. The Ethiopian mine is about to go into operation, and Allied Gold aims to hit a combined one million ounces of gold annually from its global assets. Gold mining is becoming a particularly lucrative business as gold prices hit a record USD 5,000 per ounce, compared to just USD 2,000 a few years ago.
Allied Gold was looking for financing to develop its Ethiopian project and to expand other mines in Africa. Zijin is happy to pay a premium for a company that is already listed on the New York Stock Exchange, which is one of the largest capital markets in the world.
