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China's Zijin Gold is buying Canada's Allied Gold for about $4 billion
From Reuters
Monday, January 26, 2026
Zijin Gold will buy Canada's Allied Gold for about C$5.5 billion ($4.02 billion) in cash, the companies said today as the Chinese miner ramps up its global expansion against the backdrop of record high prices of the yellow metal.
A surge in gold prices has boosted margins and cash flows for miners, fuelling consolidation in the industry as large producers seek to secure long-life assets and boost output through acquisitions rather than developing new mines.
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The deal also comes as Canada and China move to mend ties, having reached a preliminary agreement this month to cut tariffs on electric vehicles and canola while vowing to ease trade barriers and strengthen strategic cooperation.
Zijin will pay C$44 per share, implying a premium of about 5.4% to Allied stock's last close. ...
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