Allied Gold has secured a strategic partnership with UAE-based Ambrosia Investment Holding, obtaining $500 million to expand its mining operations in Africa, particularly in Mali. The deal includes selling half of Allied’s assets in Mali and a significant ownership stake for Ambrosia, aimed at enhancing production capacity and financial flexibility.
Allied Gold, a Canadian mining company, has entered a strategic partnership with Ambrosia Investment Holding, a UAE investment fund, to support its mining operations in Africa. This significant partnership aims to leverage Ambrosia’s regional expertise as it invests in Allied’s gold mining assets in Mali. The collaboration underscores the UAE’s prominent role in financing African projects, outpacing traditional investors like China.
The partnership between Allied Gold and Ambrosia Investment Holding highlights a noteworthy strategic move in the mining sector, set to enhance Allied’s operational capabilities and expand production significantly. The joint venture stands as a pioneering example of collaboration between Canadian and Emirati investors in Mali. Allied’s ambitious growth plans, which include substantial expansions at its Sadiola and Kurmuk projects, underscore the potential for increased productivity and profitability.
Original Source: www.mining.com
