From Yahoo Finance: 2025-06-09 13:24:00

Canadian miner Allied Gold is considering alternative power supply options for its Sadiola mine in Mali due to rising gold prices. A deal with Ambrosia Investment for a 50% stake in the mine and a new power supply system worth $500 million is yet to close. Gold prices have surged 30% this year, hitting a record high of $3,500.05 per ounce on April 22.

Allied Gold CEO Peter Marrone stated the deal may close in June, but other options are available due to changes in the company’s position and gold prices. Mali, Africa’s third-largest gold producer, aims to increase revenue from the mining sector and foreign multinationals must comply with government demands. Allied Gold took a pragmatic approach to settling with the government.

The country is in dispute with Barrick Mining, the only gold miner that has not signed Mali’s new mining code. Allied Gold, already listed on the Toronto Stock Exchange, began dual listing on the New York Stock Exchange. Marrone emphasized the company’s focus on delivering returns to investors through cooperation and support.



Read more at Yahoo Finance: Canada’s Allied Gold could look at options for power supply deal at Sadiola mine