• Zijin Mining raised its 2028 gold production target to 140 tonnes, up from 110 tonnes.

• The group agreed to acquire Allied Gold for $5.5 billion after buying Ghana’s Akyem mine for $1 billion in 2024.

• Zijin produced 90 tonnes of gold in 2025 and expects output to reach 105 tonnes in 2026.

In a note published on Monday, February 9, Zijin increased its gold output objective to as much as 140 tonnes by 2028, compared with a previous target of 110 tonnes announced in 2024. The company stated that it will accelerate performance optimization at its existing mines; however, the revised projection reflects intensifying expansion in Africa’s gold sector.

Zijin has historically focused on copper, notably through the Kamoa-Kakula mine in the Democratic Republic of Congo. However, the group initiated a strategic push into African gold in 2024 when it acquired the Akyem gold mine in Ghana for about $1 billion.

The company reinforced this strategy in late January 2026 when it announced an agreement to acquire Canadian-listed Allied Gold for $5.5 billion. Allied Gold operates three mines in West Africa—Sadiola in Mali, and Agbaou and Bonikro in Côte d’Ivoire—and plans to commission a fourth mine, Kurmuk in Ethiopia, this year.

Zijin operates more than a dozen gold mines across China, Papua New Guinea and Colombia. The company reported gold production of 90 tonnes in 2025. The group expects output to reach 105 tonnes in 2026 before rising sharply toward 2028 in line with the upgraded target.

Zijin stated that it is accelerating completion of new gold mines in China. However, the company conditioned achievement of its 2028 target on several factors, including progress in ongoing investments and mergers and acquisitions.

The company made this clarification as it continues the merger process with Allied Gold. Zijin is conducting the transaction through its new subsidiary Zijin Gold, and the deal still requires approval from Allied shareholders. The parties expect to finalize the acquisition by the end of April.

Completion of the Allied transaction could significantly influence Zijin’s strategic direction and clarify the role Africa will play in the company’s future production growth.

 Aurel Sèdjro Houenou