Zijin Mining Group (02899): ZIJIN GOLD INTL plans to acquire 100% equity of Allied Gold Corporation for approximately 5.5 billion Canadian dollars.

Zijin Mining Group (02899) and ZIJIN GOLD INTL (02259) jointly announced that on January 26, 2026, Zijin Mining Group's subsidiary ZIJIN GOLD INTL signed an Arrangement Agreement with Allied Gold Corporation to acquire all issued ordinary shares of Allied Gold Corporation at a cash price of 44 Canadian dollars per share, with a total acquisition value of approximately 5.5 billion Canadian dollars (equivalent to 2.8 billion RMB or 4 billion USD). Allied Gold Corporation's core assets include the producing Sadiola gold mine in Mali, the Ivory Coast gold mine complex (including Bonikro and Agbaou gold mines), and the Kurmuk gold mine in Ethiopia, which is expected to start production in the second half of 2026. As of the end of 2024, Allied Gold Corporation had gold resources of 533 tons with an average grade of 1.48 grams per ton; it produced 10.7 tons and 11.1 tons of gold in 2023 and 2024, respectively. It is projected to produce 11.7-12.4 tons of gold in 2025; with the expansion of the Sadiola project and the completion of the Kurmuk project, the gold production is expected to increase to 25 tons by 2029. "Allied Gold" refers to Allied Gold Corporation, a Canadian-based gold mining company that was listed on the Toronto Stock Exchange in September 2023 and the New York Stock Exchange in June 2025, with the ticker symbol AAUC. Allied Gold Corporation's projects are large-scale open-pit gold mines that are either producing or about to start production, and their acquisition is expected to contribute to production and profits in the same year. The projects have large reserves, good mineralization conditions, significant potential for further exploration, mature ore processing technology, and well-established infrastructure. According to Allied Gold Corporation's production schedule, gold production is expected to increase to 25 tons by 2029. Leveraging the strong full-process proprietary technology and engineering research and development innovation capabilities of Zijin Mining Group and ZIJIN GOLD INTL, there is potential to further improve production and capacity levels, with a short expected return on investment and significant economic benefits. This acquisition will effectively strengthen the resource linkage system of Zijin Mining Group and ZIJIN GOLD INTL in Africa. The Sadiola gold mine in Mali, the Ivory Coast gold mine complex, and the Akyem gold mine in Ghana, which are adjacent, will create strong synergies and help Zijin Mining Group and ZIJIN GOLD INTL deepen their presence in the important gold mineralization belt in West Africa; the Kurmuk project in Ethiopia is adjacent to the Bisha zinc (copper) mine of Zijin Mining Group in Eritrea, demonstrating the advantages of linkage in East Africa. This acquisition will quickly enhance Zijin Mining Group's gold sector and ZIJIN GOLD INTL's presence in Africa, continuously optimize the global resource allocation of Zijin Mining Group and ZIJIN GOLD INTL. Since its listing, ZIJIN GOLD INTL has seen a significant increase in market value and has become one of the top five gold-listed companies globally, with strong competitiveness and flexibility in overseas capital markets financing and M&A transactions. With ZIJIN GOLD INTL as the implementation entity, after the completion of the transaction, its asset layout will expand to 12 large gold mines in 12 countries, and the scale, profitability, and global industry position of ZIJIN GOLD INTL will be significantly enhanced, helping further consolidate its position and influence in the global gold industry. Zijin Mining Group is mainly engaged in the exploration, development, mining engineering research, design, and application of copper, gold, zinc, lithium, silver, molybdenum, and other metal mineral resources globally, while ZIJIN GOLD INTL is mainly engaged in the exploration, mining, ore processing, smelting, refining, and sales of gold. If the transaction is completed, it will significantly increase the gold reserves and profit-making ability of Zijin Mining Group and ZIJIN GOLD INTL, helping further consolidate ZIJIN GOLD INTL's position and influence in the global gold industry, and contribute to solidifying Zijin Mining Group's leading position in the global gold industry, achieving significant strategic significance in becoming a world-class mining conglomerate.