en.Wedoany.com Reported - Zijin Mining and Allied Gold have announced the termination of their previously agreed $4 billion acquisition agreement, while Zijin Mining will subscribe for 12.8 million common shares of Allied Gold for approximately $295 million, securing a 9.2% stake. In a joint statement, the two miners said that as of the external deadline of July 29, 2026, there was no reasonable possibility of fulfilling the conditions required to complete the transaction, and the parties agreed not to extend the deadline, rendering the original agreement void.

Following the termination of the acquisition, Zijin Mining and Allied Gold separately entered into a subscription agreement. Allied Gold stated that the net proceeds from this investment will be used to advance its growth plans, including operational optimization, the completion and ramp-up of the Kurmuk project, the phased expansion of the Sadiola project, production increases at the CDI complex, and exploration activities within its portfolio. The new transaction is expected to close around August 10.