Ethiopia: UAE-Linked Zijin Gold Acquires Stake in Ethiopian Gold Mine Near Sudan Border

Addis Abeba — Chinese mining company Zijin Gold International has acquired a 9.2% stake in Canadian mining firm Allied Gold, gaining partial ownership of its portfolio that includes the Kurmuk gold project in Ethiopia’s Benishangul-Gumuz Region, near the Sudanese border.

Investigative journalism reports The deal, worth nearly $300 million, gives Zijin Gold approximately 9.2% of Allied Gold’s issued and outstanding common shares, the Canadian company announced.

The acquisition places the Chinese…