[SMM Flash News] Zijin's US$4 Billion Bid for Allied Gold Collapses After China Approval Delay

Published: Jul 29, 2026 22:57

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Zijin Gold's planned US$4 billion acquisition of Allied Gold has been terminated after the companies agreed to let the July 29 deadline expire, citing the lack of timely regulatory approval in China. Although the transaction had received approvals in Canada and other jurisdictions, several closing conditions remained outstanding. Instead of proceeding with the acquisition, Zijin will subscribe for approximately 12.8 million newly issued Allied Gold shares through a private placement worth about US$295 million, resulting in a 9.2% equity stake upon completion.

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