Zijin Gold International (02259) has agreed to acquire all issued shares of Allied Gold Corporation at C$44 per share, with a total consideration of C$5.5 billion. Allied Gold holds six mining licenses and five exploration permits in Africa.
According to the report, as of the end of 2024, the company's proven and indicated gold resources amount to 488 tonnes, with proven and probable gold reserves of 337 tonnes.
Its gold production for 2025 is projected to reach between 11.7 and 12.4 tonnes. With the expansion of the Sadiola mine and the completion of the Kurmuk mine, gold output is anticipated to rise to 25 tonnes by 2029.
This acquisition is expected to boost Zijin Gold's proven and probable reserves by 36% and increase its 2029 gold production by 43%. The transaction is also forecasted to generate synergies with Zijin Gold's existing mining operations in Ghana.
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