Zijin Gold International Co. is attempting to acquire Canada’s Allied Gold Corp. for $5.5 billion, offering $44 per share in cash—an all‑time high for Allied’s stock. The deal received swift approval in Canada and other jurisdictions, but it still awaits clearance from Chinese authorities.

Allied’s chief executive, Peter Marrone, said the transaction is in jeopardy because of China’s slow approval process and the need to secure lenders, security registrations, and streaming agreements. Even though Canada’s regulatory path is straightforward, other jurisdictions lack the experience, making the deal more complex.

Allied mines in Mali and Ivory Coast, producing about 375,000 ounces of gold annually, and is launching a new mine in Ethiopia that could add up to 290,000 ounces per year. The company is exploring renegotiation or a partial stake with Zijin if the full acquisition chute falls through.

In the meantime, Zijin plans to invest $295 million in the African‑focused gold producer, keeping the partnership alive while the full purchase remains on hold.