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Mergers & AcquisitionsMediumUpdated•Originally published 29 July 2026•Updated 30 July 2026•
1 min read

Zijin Mining's $4bn Acquisition of Allied Gold Collapses Amid Regulatory Hurdles

Conceptual illustration of a broken bridge between China and Canada maps, with a 'Regulatory Hurdles' barrier and gold.

Key Facts

1The proposed $4bn acquisition of Allied Gold by China's Zijin Mining has collapsed.
2Objections from Chinese regulators led to the cancellation of the tie-up between the two groups.

In a move reflecting the growing challenges for cross-border M&A in the mining sector, the proposed $4 billion acquisition of Allied Gold by China's Zijin Mining has collapsed. According to reports, the termination followed formal objections from Chinese regulators, which ultimately led both parties to cancel the planned tie-up after the deal became untenable.

This development occurs amid a complex regulatory environment, where the collapse of such a mega-cap deal suggests tightening oversight that could impact sector valuations. Per market data, shares of Zijin Mining (2899.HK) stood at 32.70 HKD at close on July 29, 2026, having traded between a day low of 31.82 HKD and a high of 32.84 HKD.

Traders should watch the 31.82 HKD support level for 2899.HK following the loss of this growth catalyst. With no upcoming calendar events directly related to these entities in the immediate pipeline, market attention will shift to how Zijin Mining adjusts its expansion strategy following this significant regulatory setback.