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Allied Gold, Zijin finalise strategic investment

An image of the Sadiola project

Sadiola project

11th August 2026

By: Tasneem Bulbulia

Deputy Editor Online

     

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Canada-based gold producer Allied Gold has announced the closing of a previously indicated strategic investment by Zijin Gold International Company by way of a non-brokered private placement of 12.8-million common shares for aggregate gross proceeds of C$416.64-million.

Allied plans to use the net proceeds of this strategic investment for the continued advancement of its growth initiatives, including operational optimisations; the completion and ramp-up of the Kurmuk project, in Ethiopia; the phased expansion of the Sadiola project, in Mali; production increases at the Côte d’Ivoire Complex; and exploration efforts across its portfolio.

With the completion of the strategic investment, Zijin holds about 9.2% of the issued and outstanding common shares Allied.

A proposed C$5.5-billion deal for Zijin to acquire all shares in Allied collapsed at the end of July, with the companies then agreeing to the C$416.64-million investment by Zijin instead. 

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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