• Zijin secures shareholder approval for its C$5.5 billion ($3.9 billion) acquisition of Allied Gold
• Deal expands Zijin’s footprint across Ghana, Côte d’Ivoire, Mali, and Ethiopia
• Combined assets could deliver annual gold output of about 800,000 ounces by 2029

Chinese mining group Zijin Mining advanced its expansion in West Africa after Canadian miner Allied Gold secured shareholder approval for its acquisition.

Allied Gold announced the approval on Tuesday, March 31. The decision marked a key milestone toward completing the transaction and enabled Zijin to deepen its presence in the West African gold sector.

Zijin entered Africa’s gold sector in 2025 through its acquisition of the Akyem mine in Ghana. The company previously focused on copper operations in the Democratic Republic of Congo.

In January, Zijin submitted an offer to acquire Allied Gold and its asset portfolio. The portfolio includes the Agbaou and Bonikro mines in Côte d’Ivoire, as well as the Sadiola mine in Mali.

The companies valued the transaction at C$5.5 billion (approximately $3.9 billion). The deal remained subject to multiple regulatory approvals, including shareholder consent, which Allied Gold has now secured.

This milestone brought both parties closer to completing the transaction by the end of April. However, Zijin and Allied Gold must still secure regulatory approvals across relevant jurisdictions.

The companies must also obtain final approval from a court in the province of Ontario, Canada.

Meanwhile, both companies have started preparing for integration. They stated that they are working toward a “a smooth transition, including detailed site visits, planning for management integration, and evaluating additional optimizations and opportunities aimed at increasing the future value of the asset platform.”

This preparation includes site visits, management integration planning, and identifying optimization opportunities to enhance asset value.

Zijin framed the acquisition as part of a broader strategy to increase gold output. The company expects the integration of Allied Gold to secure a portfolio capable of producing about 800,000 ounces of gold annually by 2029.

This projection includes not only West African mines but also the Kurmuk project that Allied Gold is developing in Ethiopia. In parallel, Zijin is exploring further acquisition opportunities. The company is targeting its Chinese peer Chifeng Gold, which operates the Wassa mine in Ghana.

Such a transaction would further increase the weight of West Africa within Zijin’s global portfolio, which already includes assets in Central Asia and Latin America.

This article was initially published in French by Aurel Sèdjro Houenou

Adapted in English by Ange J.A de Berry Quenum