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Zijin Gold International Company Limited ( (HK:2259) ) has provided an update.
Zijin Gold International, a subsidiary of Zijin Mining, has agreed to acquire 100% of Allied Gold Corporation for approximately CAD5.5 billion in cash, valuing Allied Gold at CAD44 per share. The deal will bring into Zijin’s portfolio Allied Gold’s producing Sadiola mine in Mali, the Bonikro and Agbaou mines in Côte d’Ivoire, and the Kurmuk project in Ethiopia, which is due to start production in the second half of 2026, with Allied Gold’s annual gold output projected to rise to 25 tonnes by 2029 after upgrades and expansions. The transaction, treated as a discloseable transaction for Zijin Gold International but not a notifiable or connected transaction for Zijin Mining under Hong Kong listing rules, remains subject to shareholder, court and regulatory approvals in Canada, China and other jurisdictions, highlighting both its strategic importance for Zijin’s African growth and the execution risks for investors and other stakeholders.
The most recent analyst rating on (HK:2259) stock is a Buy with a HK$189.00 price target. To see the full list of analyst forecasts on Zijin Gold International Company Limited stock, see the HK:2259 Stock Forecast page.
More about Zijin Gold International Company Limited
Zijin Mining Group Co., Ltd. is a China-based mining company, with Hong Kong-listed subsidiary Zijin Gold International Company Limited, focused on the exploration, development and operation of gold and other mineral resources. Through its international arm, the group actively acquires and operates overseas mining assets to expand its global footprint in the gold sector.
Average Trading Volume: 4,407,127
Current Market Cap: HK$550.8B
See more insights into 2259 stock on TipRanks’ Stock Analysis page.