The proposed C$5.5-billion acquisition of Allied Gold Corporation by Zijin Gold International has taken a massive step toward completion, having secured critical regulatory greenlights from both Canadian and African authorities. The mega-deal represents one of the most significant consolidations in the global gold mining sector this year.
TSX- and NYSE-listed Allied Gold confirmed this week that it has received official approval under the Investment Canada Act. This milestone marks the successful conclusion of the Canadian regulatory review process, paving the way for Hong Kong-listed Zijin Gold International—an arm of the Chinese mining giant Zijin Mining—to acquire all of Allied’s issued and outstanding share capital.
The acquisition is structured as an all-cash offer of C$44 per Allied share. Valuing the total transaction at a staggering C$5.5 billion, the deal delivers an attractive, immediate premium to Allied shareholders while underscoring Zijin’s aggressive appetite for global resource expansion.
African Authorities Give the Nod
Because Allied Gold’s primary operations are based in Africa, regional anti-trust and competition approvals were just as crucial to the deal’s success as Canadian clearance.
The transaction has successfully obtained merger clearance from two major continental blocs: the Regional Competition Authority of the Economic Community of West African States (ECOWAS), and the Competition and Consumer Commission of the Common Market for Eastern and Southern Africa (COMESA).
These regional approvals are deeply tied to Allied’s operational footprint. The company currently operates a robust portfolio consisting of three active producing assets and high-potential development projects strategically located in Côte d’Ivoire, Mali, and Ethiopia.
Furthermore, the companies noted that specific, localized regulatory approvals in these African host nations have either already been secured or are currently in the advanced stages of processing.
While the regulatory momentum is strong, the transaction is not entirely across the finish line. Final approvals from state regulatory authorities in China remain outstanding—a standard, albeit sometimes lengthy, requirement for major outbound international acquisitions by Chinese corporations.
To accommodate the timeline of these final bureaucratic reviews and ensure a seamless closing of the transaction, Allied and Zijin have mutually agreed to extend the deal’s “outside date.” Originally slated for completion by May 29, the deadline has now been officially pushed back by two months to July 29.
If successfully closed, the takeover will serve as a major victory for Zijin Mining’s global strategy. The Chinese conglomerate has been steadily increasing its footprint in Africa, seeking to secure long-term access to top-tier gold and copper assets. Absorbing Allied Gold’s highly productive West and East African mines will significantly bolster Zijin’s production profile in a period defined by historically strong gold prices.
For now, shareholders and market analysts will be watching closely as the companies navigate the final stretch of Chinese regulatory channels ahead of the new late-July deadline.
