Zijin Mining to Acquire Allied Gold in CAD5.5 Billion Deal to Boost African Gold Output
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Zijin Mining Group Co ( (HK:2899) ) has issued an update.
Zijin Mining’s subsidiary Zijin Gold International has agreed to acquire 100% of Allied Gold Corporation for approximately CAD5.5 billion in cash, valuing Allied Gold at CAD44 per share. Allied Gold’s core assets include the producing Sadiola Gold Mine in Mali, the Bonikro and Agbaou mines in Côte d’Ivoire, and the Kurmuk project in Ethiopia, which is expected to start production in the second half of 2026; combined, these assets hold an estimated 533 tonnes of gold resources and are projected to lift Allied Gold’s annual output to about 25 tonnes by 2029. The deal will significantly expand Zijin’s African gold portfolio and future production profile but remains subject to multiple closing conditions, including shareholder approval at Allied Gold, court approval in Canada, and various regulatory clearances in China, Canada and other jurisdictions, and investors are cautioned about the associated transaction risks.
The most recent analyst rating on (HK:2899) stock is a Buy with a HK$47.00 price target. To see the full list of analyst forecasts on Zijin Mining Group Co stock, see the HK:2899 Stock Forecast page.
More about Zijin Mining Group Co
Zijin Mining Group Co., Ltd. is a major Chinese mining company focused on the exploration, development and production of mineral resources, with a particular emphasis on gold. Through its Hong Kong-incorporated subsidiary Zijin Gold International Company Limited, the group expands and manages its overseas mining assets and investments, strengthening its presence in global precious metals markets.
YTD Price Performance: 13.35%
Average Trading Volume: 57,407,754
Technical Sentiment Signal: Buy
Current Market Cap: HK$1104.5B
For detailed information about 2899 stock, go to TipRanks’ Stock Analysis page.
