Zijin to Buy Allied Gold for $4 Billion in Growth Push (4)

A Zijin Mining Group Co. subsidiary agreed to buy Allied Gold Corp., which owns gold mines in Africa, for C$5.5 billion ($4 billion) in the latest step in the Chinese company’s rapid growth.

Zijin has quickly become one of the world’s largest producers of gold and copper. Allied has producing gold assets in Mali and the Ivory Coast, and is developing a project in Ethiopia. The deal is among the largest acquisitions of a Canadian-registered mining company by a Chinese investor.

The cash offer from Hong Kong-listed Zijin Gold International represents a premium of about 27% over Allied’s 30-day ...