Zijin Gold has reached an agreement to acquire Allied Gold in an all-cash transaction valued at about C$5.5 billion, or roughly $4.02 billion, the companies said on Monday. The purchase price is C$44 per Allied share, which the firms say implies a premium of about 5.4% to Allied’s last closing share price.
The deal comes as gold trades near record highs, a dynamic that has expanded margins and strengthened cash flows across the mining sector. That backdrop has helped drive consolidation as major producers look to secure long-life assets and raise output through acquisitions rather than advancing new mine development projects.
Under the terms of the agreement, Allied would be required to pay C$220 million to Zijin if the transaction is terminated under certain conditions outlined by the companies. The parties expect the deal to complete by late April 2026. The companies reported the dollar-to-Canadian-dollar exchange rate for reference as $1 = 1.3676 Canadian dollars.
Allied’s chief executive, Peter Marrone, said the agreement delivers meaningful value to shareholders and highlights the breadth of Allied’s portfolio of gold assets across Africa. Allied’s U.S.-listed shares gained nearly 4% in premarket trading following the announcement.
Zijin, which operates across nine countries, is among the world’s largest gold miners. The company experienced a strong market debut in Hong Kong last year amid a sustained rally in bullion prices and a fundraising surge in September, according to the companies’ statements.
This transaction underscores two concurrent developments cited by the companies: robust gold market valuations that have eased producers’ margins and cashflow pressures, and improving diplomatic and trade relations between Canada and China. Earlier in the month, the two countries moved toward easing trade frictions by agreeing preliminary steps to reduce tariffs on electric vehicles and canola and to pursue lower trade barriers and deeper strategic cooperation. The announcement did not provide further operational details about post-closing integration or changes to existing mine plans.
No additional timetable specifics were provided beyond the expectation that the transaction will close by late April 2026.