Zijin Gold signs deal to buy Allied Gold for $5.5 billion in cash

Peter Marrone, chairman and chief executive officer of Allied Gold Corporation, joins BNN Bloomberg to discuss the company's outlook.

TORONTO — Allied Gold Corp. has signed a friendly deal to be acquired by Zijin Gold International Co. Ltd. in an agreement valued at $5.5 billion.

Hong Kong-listed Zijin Gold has agreed to pay $44 per share in cash for the Canadian-based gold miner which has a portfolio of three producing assets and development projects in Côte d’Ivoire, Mali and Ethiopia.

Allied Gold shares closed down 55 cents at $41.75 on the Toronto Stock Exchange on Friday.

• Allied Gold shares nearly quadruple, Ethiopia mine ready for gold production

Allied Gold chairman and chief executive Peter Marrone says the transaction provides a highly attractive all-cash offer at what represents an all-time high for the company’s share price.

The transaction, which is expected to close by late April, requires approval by Allied Gold shareholders.

The deal also requires approval by the Canadian government under the Investment Canada Act.

This report by The Canadian Press was first published Jan. 26, 2026.