Allied Gold has partnered with UAE’s Ambrosia Investment Holding to secure $500 million for expanding operations in Africa. The deal involves the sale of half of Allied’s gold assets in Mali and aims to boost production at the Sadiola mine. Additionally, the company plans to list on the NYSE.
Allied Gold (TSX: AAUC) has announced a strategic partnership with the UAE-based Ambrosia Investment Holding, securing $500 million to enhance its mining operations in Africa. This collaboration aims to leverage regional expertise and expand market support as the UAE becomes a key investor in African projects, surpassing China since 2019.
Allied Gold’s strategic partnership with Ambrosia Investment Holding marks a significant step towards advancing its mining operations in Africa. The investment will facilitate major expansions at Sadiola and Kurmuk while integrating renewable energy solutions. Additionally, Allied’s plans to seek a NYSE listing underscore its growth ambitions in the mining sector.
Original Source: www.mining.com
