Allied Gold–Zijin takeover: production, expansion and capex lens for mine planners
Reviewed by Joe Ashwell

First reported on MINING.com
30 Second Briefing
Allied Gold shareholders have approved Zijin Gold International’s C$5.5 billion all-cash takeover at C$44 per share, giving Zijin control of the 80%-owned Sadiola mine in Mali plus the Bonikro–Agbaou complex in Côte d’Ivoire and the Kurmuk development in Ethiopia. Sadiola’s Phase 1 expansion, centred on a new comminution circuit treating higher-grade transitional and oxide ore, lifted 2025 output to 193,880 oz within group production of 379,000 oz, slightly above guidance. Allied is keeping 2026 guidance at 385,000–425,000 oz from existing mines plus 100,000–150,000 oz from Kurmuk, targeted to start up mid-2026.
Technical Brief
- Phase 1 at Sadiola centres on a new comminution circuit handling higher-grade transitional and oxide ore.
- Sadiola’s Phase 1 ramp-up delivered 57,191 oz in Q4 2025 alone, boosting quarterly output.
- The expansion is engineered to lift Sadiola’s steady-state annual production to 200,000–230,000 oz.
- Bonikro output reached 100,678 oz in 2025, with a “significant” uplift in Q4 from higher grades and tonnage.
- Agbaou contributed 84,523 oz in 2025, underpinning the Bonikro–Agbaou complex as a multi-pit operating hub.
- Group Q4 2025 production was 117,000 oz, driving full-year output beyond guidance through grade and ore tonnage gains.
- Higher production combined with stronger gold prices nearly doubled annual revenue, moving from 2024 loss to positive earnings.
Our Take
In our database, this C$5.5 billion cash acquisition of Allied Gold sits at the upper end of recent gold-focused M&A, and follows Zijin Gold’s move to take effective control of Chifeng Jilong (2026‑03‑23), signalling an aggressive consolidation strategy across its gold portfolio.
The earlier Phase 1 expansion at Allied Gold’s 80%-owned Sadiola mine in Mali (2025‑12‑22) means Zijin is not just buying ounces in the ground but stepping into an active brownfield growth programme, which typically allows faster post-deal optimisation than greenfield builds in Africa.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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