Allied Gold Sold at Top Price Amid Gold Price Rally

Allied Gold shareholders have approved a buyout by Zijin Gold, a subsidiary of Chinese mining group Zijin Mining. The acquisition, valued at $6,900 per ounce of expected 2027 production, is seen as a sound opportunistic move by Allied given the current seller's market. The deal is also notable as it represents a shift in investment trends, with non-Western capital leading in Africa.