Allied Gold Terminates Arrangement Agreement with Zijin Gold
Allied Gold has terminated its arrangement agreement with Zijin Gold International Company, a subsidiary of Zijin Mining Group. The original deal in January involved an offer by Zijin to acquire all shares of Allied Gold for C$5.5 billion ($4.01 billion). However, the companies concluded that regulatory and external factors would prevent completion before or shortly after the 29 July 2026 deadline. Despite ending this arrangement, Zijin will still make a strategic investment in Allied Gold of approximately 1.99 billion yuan through a private placement of about 12.8 million shares at C$32.55 per share. This transaction is expected to give Zijin ownership of roughly 9.2% of Allied Gold's outstanding shares and requires approval from the Toronto Stock Exchange (TSX) and New York Stock Exchange (NYSE), with a projected completion date around August 10, 2026. The new investment will support Allied Gold’s growth initiatives such as operational improvements at Kurmuk, Sadiola expansion in Côte d'Ivoire, production increases, and exploration activities. The shares are subject to a four-month hold period under Canadian securities laws.
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