China seeks Canadian Approval for Gold from West Africa

TORONTO - Rezul -- China's Zijin Mining Seeks to Acquire Allied Gold: Geopolitical Stakes, Mali's Fight for Fair Revenues, and a Hollywood‑Level Origin Story

Perth, Australia — Wed 28 Jan 2026

Researcher Glyn MacLean has released analysis of the pending USD 4 billion (CAD 5.5 billion) acquisition of Allied Gold Corporation, a Toronto‑based mining company, by China's Zijin Mining Group Co. Ltd, a partly state‑owned enterprise. The deal, now awaiting Canadian regulatory approval, carries significant implications for USA trade politics, African resource sovereignty, and China's long‑term gold strategy.

If approved, the acquisition would transfer control of Allied Gold's operations in Mali, Côte d'Ivoire, and Ethiopia to Zijin. Allied Gold's assets could produce up to 800,000 ounces of gold annually by 2029. The acquisition adds an estimated 533 tonnes of gold resources to China's portfolio.

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The politically sensitive timing unfolds amid renewed U.S. pressure on Canada regarding economic ties with China, including public threats of 100% tariffs on Canadian goods should Canada deepen trade engagement with Beijing. "This is not just a mining deal," MacLean said. "It sits at the intersection of global trade tensions, African sovereignty, and China's strategic accumulation of gold."

Mali's Long Struggle for a Fair Share

MacLean's research highlights a deeper moral question: Who truly benefits from Mali's gold? Despite being one of Africa's largest gold producers, Mali's communities have historically received little of the wealth extracted from their land.

• Gold accounted for 79% of Mali's exports and 23% of government revenue in 2021.
• State mining revenue rose to 835.1 billion CFA (USD 1.4 billion) in 2024.
• Audits recovered USD 1.2 billion in unpaid mining revenues, revealing decades of leakage.
• Mali's new mining code allows the state and local communities to hold up to 35% equity in new projects.

"Whether the owners are Canadian, Chinese, or European, the pattern has been consistent," MacLean said. "Foreign entities profit, while Mali's communities remain poor. The question now is whether new ownership will honour Mali's reforms or repeat history."

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A Hollywood‑Level Backstory: Greed, Betrayal, and Tragedy

MacLean's report revisits the dramatic origins of modern Malian gold mining. The Sadiola Gold Mine was discovered in 1981 by Canadian geologist James C. Snell, working for IAMGOLD founder Mark Nathanson. According to public sources, Nathanson took credit for the discovery, while Snell survived an assassination attempt in London shortly after submitting his geological report. After years seeking justice and payment, Snell died by suicide in Vancouver. His son later published Gold Bloody Gold, documenting the family's ordeal.

"This story underscores the human cost behind Mali's gold," MacLean said. "A legacy of exploitation that echoes today."

CONTACT

Glyn MacLean

https://www.thedarknight.online

glyn.maclean@thedarknight.online